QMB3200 EXAM UNIVERSITY OF
CENTRAL FLORIDA QMB3200 MIDTERM
EXAM QUESTIONS WITH VERIFIED
ANSWERS
\.Analytics - ANSWERS-the scientific process of transforming data into
insight for making better decisions
\.Descriptive Analytics - ANSWERS-Analytical techniques that describe
what has happened in the past.
\.Predictive Analytics - ANSWERS-Analytical techniques that use models
constructed from past data to predict the future or assess the impact of
one variable on another.
\.Prescriptive Analytics - ANSWERS-Analytical techniques that yield a
course of action.
\.Big Data - ANSWERS-A set of data that cannot be managed, processed,
or analyzed with commonly available software in a reasonable amount
,of time. Big Data are characterized by 4 v's: volume, velocity, variety,
and veracity.
\.Data Mining - ANSWERS-The process of using procedures from
statistics and computer science to extract useful information from
extremely large databases.
\.Frequency Distribution - ANSWERS-A tabular summary of data
showing the number (frequency) of observations in each of several
nonoverlapping categories or classes.
\.Relative Frequency Distribution - ANSWERS-A tabular summary of
data showing the fraction or proportion of observations in each of
several nonoverlapping categories or classes.
\.Percent Frequency Distribution - ANSWERS-A tabular summary of data
showing the percentage of observations in each of several
nonoverlapping classes.
\.Bar Chart - ANSWERS-A graphical device for depicting categorical data
that have been summarized in a frequency, relative frequency, or
percent frequency distribution.
, \.Pie Chart - ANSWERS-A graphical device for presenting data
summaries based on subdivision of a circle into sectors that correspond
to the relative frequency for each class.
\.Class Midpoint - ANSWERS-the value halfway between the lower and
upper class limits
\.Dot Plot - ANSWERS-a graphical device that summarizes data by the
number of dots above each data value on the horizontal axis
\.Histogram - ANSWERS-A graphical display of a frequency distribution,
relative frequency distribution, or percent frequency distribution of
quantitative data constructed by placing the class intervals on the
horizontal axis and the frequencies, relative frequencies, or percent
frequencies on the vertical axis.
\.Cumulative Frequency Distribution - ANSWERS-A tabular summary of
quantitative data showing the number of data values that are less than
or equal to the upper class limit of each class.
\.Cumulative Relative Frequency Distribution - ANSWERS-A tabular
summary of quantitative data showing the fraction or proportion of
data values that are less than or equal to the upper class limit of each
class.
CENTRAL FLORIDA QMB3200 MIDTERM
EXAM QUESTIONS WITH VERIFIED
ANSWERS
\.Analytics - ANSWERS-the scientific process of transforming data into
insight for making better decisions
\.Descriptive Analytics - ANSWERS-Analytical techniques that describe
what has happened in the past.
\.Predictive Analytics - ANSWERS-Analytical techniques that use models
constructed from past data to predict the future or assess the impact of
one variable on another.
\.Prescriptive Analytics - ANSWERS-Analytical techniques that yield a
course of action.
\.Big Data - ANSWERS-A set of data that cannot be managed, processed,
or analyzed with commonly available software in a reasonable amount
,of time. Big Data are characterized by 4 v's: volume, velocity, variety,
and veracity.
\.Data Mining - ANSWERS-The process of using procedures from
statistics and computer science to extract useful information from
extremely large databases.
\.Frequency Distribution - ANSWERS-A tabular summary of data
showing the number (frequency) of observations in each of several
nonoverlapping categories or classes.
\.Relative Frequency Distribution - ANSWERS-A tabular summary of
data showing the fraction or proportion of observations in each of
several nonoverlapping categories or classes.
\.Percent Frequency Distribution - ANSWERS-A tabular summary of data
showing the percentage of observations in each of several
nonoverlapping classes.
\.Bar Chart - ANSWERS-A graphical device for depicting categorical data
that have been summarized in a frequency, relative frequency, or
percent frequency distribution.
, \.Pie Chart - ANSWERS-A graphical device for presenting data
summaries based on subdivision of a circle into sectors that correspond
to the relative frequency for each class.
\.Class Midpoint - ANSWERS-the value halfway between the lower and
upper class limits
\.Dot Plot - ANSWERS-a graphical device that summarizes data by the
number of dots above each data value on the horizontal axis
\.Histogram - ANSWERS-A graphical display of a frequency distribution,
relative frequency distribution, or percent frequency distribution of
quantitative data constructed by placing the class intervals on the
horizontal axis and the frequencies, relative frequencies, or percent
frequencies on the vertical axis.
\.Cumulative Frequency Distribution - ANSWERS-A tabular summary of
quantitative data showing the number of data values that are less than
or equal to the upper class limit of each class.
\.Cumulative Relative Frequency Distribution - ANSWERS-A tabular
summary of quantitative data showing the fraction or proportion of
data values that are less than or equal to the upper class limit of each
class.
