UCF QMB 3200 FINAL Exam Questions with 100
g g g g g g g
% Correct Answers | Latest Version
g g g g g
(2024/2025) Expert Verified
g g
Dataset-gCorrectgAnswer-
allgthegdatagcollectedgfora gparticularganalysisgData-gCorrectgAnswer-
Thegfactsg&gfiguresgcollected,ganalyzed,gandgsummarizedforgpresentatiog
nandinterpretation.
Elementg-gCorrectgAnswer-
Thegentitygonwhichgdataisgcollected.gVariableg-gCorrectgAnswer-
agcharacteristicgofginterestgofgangelement.
Observationg-gCorrectgAnswer-
Thegvariablesassociatedwithangindividualgelement.
CategoricalgData-gCorrectgAnswer-
Usegnumericgorordinalgvaluesofgmeasurementgofcategories.
QuantitativegDatag-gCorrectgAnswer-
gusegnumericg(quantitative)gmeasures
,Cross-sectionalgData-gCorrectgAnswer-
datagcollectedgatgasimilargpointgingtime.
TimegSeriesg-gCorrectgAnswer-datagcollectedgovergseveralgtimegperiods.
PanelgData-gCorrectgAnswer-combinationgofcross-
gsectionalgandgtimegseriesgdata.
DescriptivegStatisticsg-gCorrectgAnswer-
DescribesgdatagorgvariablesgPopulation-iCorrectgAnswer-
Isithegsetofgallgdata/variablesgofagstatisticalganalysis.
Sampleg-gCorrectgAnswer-
isgasubsetofthe gpopulationgStatisticalgInference:g-
CorrectgAnswer-
g
Usesdatagfromgasamplegtogmakegestimatesiandgtestghypothesisgaboutgthg
echaracteristicsgofgapopulation.
Whatdoesgrowg1gusuallygcontainingExcel?g-gCorrectgAnswer-
gTypicallycontainsgthevariable'sgnames.
WhatdoesgColumngAgusuallycontaingingExcel?g-gCorrectgAnswer-
gcontainsthegelements;gandgthegrestgofthe
,worksheetgcontainsgthegdatagingthegdataset.
Howgdogyoucalculategthegmeaningexcel?g-gCorrectgAnswer-
=AveragegHowgdogyoucalculategthegmedianginexcel?g-gCorrectgAnswer-
=median
Whatisgdataanalytics?g-gCorrectgAnswer-
gthescientificgprocessgoftransforminggdata
fordecisiongmaking.gTheregaregthreegbroadareasofgda
taanalytics.
DescriptivegAnalyticsg-gCorrectgAnswer-
gdescribegwhatghasghappenedginthegpast.
PredictivegAnalyticsg-gCorrectgAnswer-
usesgstatisticalgmodelsfromgpastgdatagtogpredictgthefutureg[forec
asting]gorgaccess
theimpactgofgonevariablegonanotherg[inference].
PrescriptivegAnalyticsg-gCorrectgAnswer-
usesgmodelsgseekinggtogfindagbestg(optimal)gsolution.gOftengthesegaregsogmet
ypeofoptimizationgmodel.
, Thegdifferencegbetweengdataandgbiggdatagareg-gCorrectgAnswer-
gWewillusegdatag(notbiggdata)
1. Volumeg-gthegnumberofobservations.
2. Velocityg-gthegspeedatgwhichgdataiscollected.
3. Variety-gthegformsofgdatagaregofgdifferentgtypes.
4. Veracityg-gthegreliabilitygofthegdataggenerated.
DatagMining-gCorrectgAnswer-
Focusesongextractinggpredictiveginformationgfromgbiggda
ta.
FrequencygDistributiong-gCorrectgAnswer-
atabulargsummarygofdatashowinggthenumberg(i.e.gfrequency)gofobservgati
onsineachgofgseveralgnongover-lappinggcategories.
RelativegFrequencyg-gCorrectgAnswer-
frequencygofaclass/gngofaclassg PercentgFrequencyg-gCorrectgAnswer-
relativegfrequencygxg100
BargChart:-gCorrectgAnswer-
agvisualgdisplayoffrequency;grelativegfrequency&gpercentgfrequencygdistri
butions.
g g g g g g g
% Correct Answers | Latest Version
g g g g g
(2024/2025) Expert Verified
g g
Dataset-gCorrectgAnswer-
allgthegdatagcollectedgfora gparticularganalysisgData-gCorrectgAnswer-
Thegfactsg&gfiguresgcollected,ganalyzed,gandgsummarizedforgpresentatiog
nandinterpretation.
Elementg-gCorrectgAnswer-
Thegentitygonwhichgdataisgcollected.gVariableg-gCorrectgAnswer-
agcharacteristicgofginterestgofgangelement.
Observationg-gCorrectgAnswer-
Thegvariablesassociatedwithangindividualgelement.
CategoricalgData-gCorrectgAnswer-
Usegnumericgorordinalgvaluesofgmeasurementgofcategories.
QuantitativegDatag-gCorrectgAnswer-
gusegnumericg(quantitative)gmeasures
,Cross-sectionalgData-gCorrectgAnswer-
datagcollectedgatgasimilargpointgingtime.
TimegSeriesg-gCorrectgAnswer-datagcollectedgovergseveralgtimegperiods.
PanelgData-gCorrectgAnswer-combinationgofcross-
gsectionalgandgtimegseriesgdata.
DescriptivegStatisticsg-gCorrectgAnswer-
DescribesgdatagorgvariablesgPopulation-iCorrectgAnswer-
Isithegsetofgallgdata/variablesgofagstatisticalganalysis.
Sampleg-gCorrectgAnswer-
isgasubsetofthe gpopulationgStatisticalgInference:g-
CorrectgAnswer-
g
Usesdatagfromgasamplegtogmakegestimatesiandgtestghypothesisgaboutgthg
echaracteristicsgofgapopulation.
Whatdoesgrowg1gusuallygcontainingExcel?g-gCorrectgAnswer-
gTypicallycontainsgthevariable'sgnames.
WhatdoesgColumngAgusuallycontaingingExcel?g-gCorrectgAnswer-
gcontainsthegelements;gandgthegrestgofthe
,worksheetgcontainsgthegdatagingthegdataset.
Howgdogyoucalculategthegmeaningexcel?g-gCorrectgAnswer-
=AveragegHowgdogyoucalculategthegmedianginexcel?g-gCorrectgAnswer-
=median
Whatisgdataanalytics?g-gCorrectgAnswer-
gthescientificgprocessgoftransforminggdata
fordecisiongmaking.gTheregaregthreegbroadareasofgda
taanalytics.
DescriptivegAnalyticsg-gCorrectgAnswer-
gdescribegwhatghasghappenedginthegpast.
PredictivegAnalyticsg-gCorrectgAnswer-
usesgstatisticalgmodelsfromgpastgdatagtogpredictgthefutureg[forec
asting]gorgaccess
theimpactgofgonevariablegonanotherg[inference].
PrescriptivegAnalyticsg-gCorrectgAnswer-
usesgmodelsgseekinggtogfindagbestg(optimal)gsolution.gOftengthesegaregsogmet
ypeofoptimizationgmodel.
, Thegdifferencegbetweengdataandgbiggdatagareg-gCorrectgAnswer-
gWewillusegdatag(notbiggdata)
1. Volumeg-gthegnumberofobservations.
2. Velocityg-gthegspeedatgwhichgdataiscollected.
3. Variety-gthegformsofgdatagaregofgdifferentgtypes.
4. Veracityg-gthegreliabilitygofthegdataggenerated.
DatagMining-gCorrectgAnswer-
Focusesongextractinggpredictiveginformationgfromgbiggda
ta.
FrequencygDistributiong-gCorrectgAnswer-
atabulargsummarygofdatashowinggthenumberg(i.e.gfrequency)gofobservgati
onsineachgofgseveralgnongover-lappinggcategories.
RelativegFrequencyg-gCorrectgAnswer-
frequencygofaclass/gngofaclassg PercentgFrequencyg-gCorrectgAnswer-
relativegfrequencygxg100
BargChart:-gCorrectgAnswer-
agvisualgdisplayoffrequency;grelativegfrequency&gpercentgfrequencygdistri
butions.
