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WGU VPC2Data-Driven Decision MakingC207 Sample Questions:

1. A political ballot gives voters the option to vote for one of three candidates. Eight voters cast their ballots.
Which statistical rule should be used to determine the possible voting outcomes?

A) Bayes ' theorem
B) Multiplication principle
C) Combination
D) Conditional probability

2. Two vendors sell a dozen raw materials that a company needs to build its products. Which type of analysis should be used to determine if one of the vendors has a better average price at a given point in time?

A) Heuristic analysis
B) Background analysis
C) Graphical analysis
D) Data analysis

3. How should a marketing consulting firm perform a cluster analysis for a new granola bar?

A) Determine whether there are any granola bar sales trends
B) Determine competitor benchmarks and forecasts for comparison
C) Determine the reasons for consumer granola bar purchases
D) Determine the different segments or groups to target

4. Which use of statistics would apply to employees?

A) Determining financial interest rates
B) Influencing future vendor prices
C) Predicting future levels of financial risk
D) Comparing with competitors on wholesale pricing

5. A company runs a regression analysis to identify the impact of volume on demand, which can be shown as an equation y = 50x + 10. Which volume is needed to produce a demand of 10,510?

A) 525,610
B) 210
C) 525
D) 208

Solutions: