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WGU Data-Driven-Decision-Making Exam Syllabus Topics:

SectionObjectives
Data Fundamentals and Business Analytics- Data types and data collection methods
- Descriptive statistics (mean, median, variance, standard deviation)
Regression and Correlation Analysis- Linear regression modeling
- Interpreting correlation and causation
Probability and Statistical Inference- Sampling methods and sampling error
- Probability concepts and distributions
Decision Making Models- Decision trees and expected value analysis
- Risk and uncertainty in decision-making
Hypothesis Testing- Null and alternative hypotheses
- t-tests, chi-square tests, and significance testing

WGU VPC2Data-Driven Decision MakingC207 Sample Questions:

1. A boutique specializing in gifts reviews its sales data over the last year. It observes a slow decline in revenue in the first quarter, a growth in revenue in the second quarter, a slight decline in revenue in the third quarter, and a rapid increase in revenue in the fourth quarter.
Which data pattern type can the sales data be assessed against?

A) Cyclicality
B) Random variation
C) Seasonality
D) Irregularity


2. Which tool should be used to closely monitor inputs and outputs?

A) Individual pro forma statements
B) SIPOC diagram
C) Joint financial statements
D) Business process diagram


3. An analyst used multiple linear regression to show how a big box store's sales (y) are predicted by the big box store's advertising expenditure in dollars (variable x1) and the advertising expenditure in dollars of a specialty store (variable x2) in the same market. The estimated regression is y = 651.57 + 92.30x1 # 26.89x2. How are advertising expenditures and sales related in this scenario?

A) If the big box store decreases its advertising expenditures, its sales will increase.
B) If the specialty store increases its advertising expenditures, it will decrease the big box store's sales.
C) If the big box store decreases its advertising expenditures, it will decrease the big box store's sales.
D) If the big box store increases its advertising expenditures, its sales will decrease.


4. Which performance metric simultaneously accounts for financial, customer, internal process, and learning metrics?

A) Customer complaint report
B) Balanced scorecard
C) Balance sheet
D) Income statement


5. A firm seeks to sharply reduce sales lead times to enhance sales effectiveness and productivity. Which action should the firm take to accomplish this?

A) Implement additional quality assurance measures
B) Increase the research and development budget
C) Prepare a media campaign
D) Deploy a customer relationship management tool


Solutions:

Question # 1
Answer: C
Question # 2
Answer: B
Question # 3
Answer: B
Question # 4
Answer: B
Question # 5
Answer: D

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