QMB 3200 MIDTERM EXAM ACTUAL EXAM 2
VERSIONS (VERSION A AND B) COMPLETE
ACTUAL EXAM QUESTIONS WITH DETAILED
VERIFIED ANSWERS (100% CORRECT
ANSWERS) /ALREADY GRADED A+
Dataset - ANSWER all the data collected for a particular analysis.
Element - ANSWER the entity on which data is collected.
Observation - ANSWER the variables associated with an individual element.
Variable - ANSWER a characteristic of interest of an element.
Categorical Data - ANSWER use numeric or ordinal values of measurement of
categories.
Cross-Sectional Data - ANSWER data collected at a similar point in time.
Time Series - ANSWER data collected over several time periods.
Panel - ANSWER combination of cross-sectional and time series data.
Population - ANSWER is the set of all data/variables of a statistical analysis.
Sample - ANSWER subset of the population.
Frequency Formula - ANSWER =countif(highlight column, select cell)
Percent Frequency - ANSWER =cell/sum(cell range)
Descriptive Analytics - ANSWER which describe what has happened in the past.
Predictive Analytics - ANSWER uses statistical models from past data to predict the
future forecasting or access the impact of one variable on another inference.
Prescriptive Analytics - ANSWER uses models seeking to find a best optimal
solution. Often these are some type of optimization model.
Veracity - ANSWER the reliability of the data generated.
Data Mining - ANSWER Focuses on extracting predictive information from big data.
Big Data - ANSWER Volume
VERSIONS (VERSION A AND B) COMPLETE
ACTUAL EXAM QUESTIONS WITH DETAILED
VERIFIED ANSWERS (100% CORRECT
ANSWERS) /ALREADY GRADED A+
Dataset - ANSWER all the data collected for a particular analysis.
Element - ANSWER the entity on which data is collected.
Observation - ANSWER the variables associated with an individual element.
Variable - ANSWER a characteristic of interest of an element.
Categorical Data - ANSWER use numeric or ordinal values of measurement of
categories.
Cross-Sectional Data - ANSWER data collected at a similar point in time.
Time Series - ANSWER data collected over several time periods.
Panel - ANSWER combination of cross-sectional and time series data.
Population - ANSWER is the set of all data/variables of a statistical analysis.
Sample - ANSWER subset of the population.
Frequency Formula - ANSWER =countif(highlight column, select cell)
Percent Frequency - ANSWER =cell/sum(cell range)
Descriptive Analytics - ANSWER which describe what has happened in the past.
Predictive Analytics - ANSWER uses statistical models from past data to predict the
future forecasting or access the impact of one variable on another inference.
Prescriptive Analytics - ANSWER uses models seeking to find a best optimal
solution. Often these are some type of optimization model.
Veracity - ANSWER the reliability of the data generated.
Data Mining - ANSWER Focuses on extracting predictive information from big data.
Big Data - ANSWER Volume
