UCF QMB 3200 Final Exam Verified Questions with Correct
Answers Graded A+
Categorical Data
Uses categories with specified characteristics.
Ratio Data
are continuous and have a natural zero point. Most business and economic data, such as dollars and
time, fall into this category. Age, length of residency/time.
Ordinal Data
Can be ordered or ranked according to some relationship. Examples: Overall Satisfaction, Quality of
Schools, Sport Rankings.
Interval Data
Interval data are ordinal but have constant differences between observations and have arbitrary zero
points. Common examples are time and temperature. Time is relative to global location, and calendars
have arbitrary starting dates (compare, for example, the standard Gregorian calendar with the Chinese
calendar). Both the Fahrenheit and Celsius scales represent a specified measure
of distance—degrees—but have arbitrary zero points. Credit Score.
Frequency Distribution Table
A frequency distribution is a table that shows the number of observations in each of several
nonoverlapping groups. A graphical depiction of a frequency distribution in the form of a column chart is
called a histogram. Frequency distributions and histograms summarize basic characteristics of data, such
as where the data are centered and how broadly data are dispersed.
Excel: Find Frequency
Use COUNTIF(Range, Cell_reference). Range will be the category you are looking for and the reference
can be the type in "quotations". i.e. =COUNTIF( A2:A31, "Male")
Relative Frquency
i = frequency of category i / n (total number of observations)
Frequency Distributions and Histograms:
, Analysis Toolpak in Excel under the data analysis tab:
-Select the Data tab
-In the Analysis group, click Data Analysis
-In the Data Analysis dialog, select Histogram and click OK
-In the Histogram dialog window, specify the Input range and the Bin range
-Click OK, and review the output table and histogram graph
This will give you the Frequency distribution:
-Select the entire distribution table
-click Insert
-Insert statistical chart
-Select Histogram
cumulative relative frequency
Percentile
kth percentile is a value at or below which at least k percent of the observations lie. The most common
way to compute the kth percentile is to order the data values from smallest to largest and calculate the
rank of the kth percentile using the formula below, where n is the number of observations.
(NK/100)+0.5
Value of N= Number of observations
Value of K= percentile (10th percentile = 10)
Excel Percentile Function
PERCENTILE.INC(array, k)
Array: Cell Array
K: Percentile in decimal form
Excel Rank and Percentile
Data Analysis Tool
- Rank and Percentile
-Select Range
-Go to the desired
Answers Graded A+
Categorical Data
Uses categories with specified characteristics.
Ratio Data
are continuous and have a natural zero point. Most business and economic data, such as dollars and
time, fall into this category. Age, length of residency/time.
Ordinal Data
Can be ordered or ranked according to some relationship. Examples: Overall Satisfaction, Quality of
Schools, Sport Rankings.
Interval Data
Interval data are ordinal but have constant differences between observations and have arbitrary zero
points. Common examples are time and temperature. Time is relative to global location, and calendars
have arbitrary starting dates (compare, for example, the standard Gregorian calendar with the Chinese
calendar). Both the Fahrenheit and Celsius scales represent a specified measure
of distance—degrees—but have arbitrary zero points. Credit Score.
Frequency Distribution Table
A frequency distribution is a table that shows the number of observations in each of several
nonoverlapping groups. A graphical depiction of a frequency distribution in the form of a column chart is
called a histogram. Frequency distributions and histograms summarize basic characteristics of data, such
as where the data are centered and how broadly data are dispersed.
Excel: Find Frequency
Use COUNTIF(Range, Cell_reference). Range will be the category you are looking for and the reference
can be the type in "quotations". i.e. =COUNTIF( A2:A31, "Male")
Relative Frquency
i = frequency of category i / n (total number of observations)
Frequency Distributions and Histograms:
, Analysis Toolpak in Excel under the data analysis tab:
-Select the Data tab
-In the Analysis group, click Data Analysis
-In the Data Analysis dialog, select Histogram and click OK
-In the Histogram dialog window, specify the Input range and the Bin range
-Click OK, and review the output table and histogram graph
This will give you the Frequency distribution:
-Select the entire distribution table
-click Insert
-Insert statistical chart
-Select Histogram
cumulative relative frequency
Percentile
kth percentile is a value at or below which at least k percent of the observations lie. The most common
way to compute the kth percentile is to order the data values from smallest to largest and calculate the
rank of the kth percentile using the formula below, where n is the number of observations.
(NK/100)+0.5
Value of N= Number of observations
Value of K= percentile (10th percentile = 10)
Excel Percentile Function
PERCENTILE.INC(array, k)
Array: Cell Array
K: Percentile in decimal form
Excel Rank and Percentile
Data Analysis Tool
- Rank and Percentile
-Select Range
-Go to the desired
