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Data-Driven Decision Making > FINAL ASSESSMENT > Flashcards

FINAL ASSESSMENT Flashcards

1
Q

2 types of stats (Analytics)

A

DESCRIPTIVE - Inform / Explanatory

INFERENTIAL - Predict / Trend

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2
Q

4 Levels of Measurement

A

NOIR
Nominal
Ordinal
Interval Ration

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3
Q

Continuous data with a Unique Zero point

A

RATIO

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4
Q

Qualitative objects placed in some type of order

A

Ordinal

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5
Q

Identify, Group, Categorize

A

Nominal

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6
Q

OUTLIERS create this type of Error

A

Out-of-Range

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7
Q

Error the occurs from missing data (space not filled in) = distorted results

A

Omission Error

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8
Q

Error that REPEATS itself. Leads to skewed results

A

Systematic Error

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9
Q

The process of Quality Control

A

Reduce / minimize errors

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10
Q

ALL variable measurements and manipulations are under the Researchers Control

A

Experimental Study

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11
Q

Impractical or Impossible to control the Conditions of the study

A

Observational Study

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12
Q

Questions favor an outcome OR if interviewer asks questions that favor an outcome

A

Information BIAS

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13
Q

Average outcome (Payoff) when future includes scenarios that may or may not happen

A

EMV Analysis (Expected Monetary Value)

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14
Q

Observation points that are distant from other observation points that can be Included or Excluded in analysis

A

Outliers Note

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15
Q

Bias that occurs from NOT selecting a Random Sample

A

Measurement Bias

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16
Q

Bias that introduced from respondents belief that it will be Beneficial if selected

A

Conscious Bias

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17
Q

The measured distance between the the THIRD and FIRST quartile

A

IQR (inter-quartile range)

MUST be ordered LOW –> High

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18
Q

Used to STUY the Composition of data set and examine the distribution

A

Box Plot

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19
Q

Given the PROB of A given PROB of B… can use this to find the P of B given the P of A

A

Bayes Theorem

MUST know P (A), P (B) and P(A) given B

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20
Q

RULE used then looking for TWO events occurring (AND)

A

Multiplication

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21
Q

RULE used then looking for One OR the other event happening (OR)

A

Addition

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22
Q

Simple Regression where Time is the Independent Variable

A

Time Series

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23
Q

General SLOPE that is UPWARD or DOWNWARD over a Period of Time

A

Trend

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24
Q

UNFORSEEN circumstances that cause Random Deviations

A

Irregularity

25
Q

Repetition in UP and Down Patterns

A

Cyclicality

26
Q

Regular pattern within a SINGLE year

A

Seasonality

27
Q

Represents the PROB that a Variable falls within a Certain Range

A

Cumulative Distribution

28
Q

LIST of ALL the different Probabilities that can occur

A

Probability Distribution

29
Q

Measures of the CENTRAL TENDENCY are approximately EQUAL (Mean and Median)

A

Normal Distribution

30
Q

Compares the MEANS of 3 or More groups

A

ANOVA\

  • F-Value - HIGHER than Crit Value to REJECT the Null
31
Q

Statistic used by the T- TEST

A

T-Value

- MUST be HIGHER than the CRITICAL Value in order to REJECT the Null

32
Q

Weak correlation IF the Coefficient is Close to which number value?

A

ZERO

33
Q

STRONG CORRELATION if Coefficient is..

A

Close to - 1 or 1

34
Q

Chart that illustrated Performance Measurements over a Period of Time

A

Run Chart

35
Q

Chart that Illustrated the LIMITS or Constraints a process should NOT Exceed

A

Control Chart

36
Q

Visual TOOL used to understand a Process

A

Flowchart

37
Q

EASY Tool used to collect data to Create OTHER Charts

A

Check Sheet

38
Q

Graphical DISPLAY of a Data Set with ONE BAR for each Category

A

Histogram - graphical display CENTERED

and

Pareto - display in Highest to Lowest order

39
Q

Use this to discover potential Relationships and Correlation between Variables

A

Scatter Diagram

40
Q

What % of QUALITY PROBLEMS does Ishikawa claim the 7 TOOLS can Solve?

A

90 - 95%

41
Q

Diagram; demonstrates ALL elements that can Influence a Process BEFORE it starts.

A 
SIPOC
Supplier
Input
Process
Customer
42
Q

MANUFACTURING approach to Process Improvement

A

SIX SIGMA

43
Q

In MANUFACTURING, what are Statistics used for?

A

Quality Control

44
Q

Plan - Do - Study - Act … which step is a Response to Analytical Results?

A

Act

45
Q

Shows whether a Results meets Requirements or not..

A

Attribute

46
Q

How WELL a Results meets Requirement

A

Variable

47
Q

Variations that are accepted as Normal part of the Process

A

Common Cause Variation

48
Q

VARIATION from an ABNORMality that Causes LARGE discrepancy in results

A

Special Cause Variation

49
Q

MODEL of Designing, Analyzing, and Scoring Tests

A

IRT (Item Response Theory)

50
Q

Government vs Private sector and Cost-Benefit Analysis

A

GOVT Benefits.. not Always Money

… could be flood prevention or welfare

51
Q

COMPARES 1 individual’s performance to Other individuals

A

NORM Referenced

52
Q

COMPARE Individual’s performance to a Standard Score

A

Criterion Referenced

53
Q

Management STRATEGY that uses RESULTS as the Central Measurement of Performance

A

RBM - Results Based Management

54
Q

Used to count ALL existing cases in a disease

A

Prevalence

55
Q

Count ONLY NEW cases in a disease

A

Incidence (Incidence Rate)

56
Q

Used to analyze if FUNDING is worth the Outcome of a project

A

Cost-Benefit Analysis

57
Q

Performance measure for ONE SPECIFIC goal

A

KPI

58
Q

Where multiple KPIs are displayed for the Big Picture

A

KPI Dashboard - multiple charts are needed

59
Q

What does a Balanced Scorecard Measure?

A 
CLIF
C - Customer
L - Learning
I - Internal processes
F - Financial performance

Data-Driven Decision Making (13 decks)

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