ACCURACY IS GUARANTEED
UCF QMB3200 Midterm Study Questions with
Detailed Verified Answers for Accuracy
Analytics
✓✓ the scientific process of transforming data into insight for
making better decisions
Descriptive Analytics
✓✓ Analytical techniques that describe what has happened in
the past.
Predictive Analytics
✓✓ Analytical techniques that use models constructed from
past data to predict the future or assess the impact of one
variable on another.
Prescriptive Analytics
✓✓ Analytical techniques that yield a course of action.
Big Data
✓✓ 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
, ACCURACY IS GUARANTEED
✓✓ The process of using procedures from statistics and
computer science to extract useful information from extremely
large databases.
Frequency Distribution
✓✓ A tabular summary of data showing the number
(frequency) of observations in each of several nonoverlapping
categories or classes.
Relative Frequency Distribution
✓✓ A tabular summary of data showing the fraction or
proportion of observations in each of several nonoverlapping
categories or classes.
Percent Frequency Distribution
✓✓ A tabular summary of data showing the percentage of
observations in each of several nonoverlapping classes.
Bar Chart
✓✓ A graphical device for depicting categorical data that have
been summarized in a frequency, relative frequency, or percent
frequency distribution.
Pie Chart
✓✓ 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
, ACCURACY IS GUARANTEED
✓✓ the value halfway between the lower and upper class limits
Dot Plot
✓✓ a graphical device that summarizes data by the number of
dots above each data value on the horizontal axis
Histogram
✓✓ 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
✓✓ 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
✓✓ 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.
Cumulative Percent Frequency Distribution
✓✓ A tabular summary of quantitative data showing the
percentage of data values that are less than or equal to the
upper class limit of each class.
Stem-and-leaf Display
UCF QMB3200 Midterm Study Questions with
Detailed Verified Answers for Accuracy
Analytics
✓✓ the scientific process of transforming data into insight for
making better decisions
Descriptive Analytics
✓✓ Analytical techniques that describe what has happened in
the past.
Predictive Analytics
✓✓ Analytical techniques that use models constructed from
past data to predict the future or assess the impact of one
variable on another.
Prescriptive Analytics
✓✓ Analytical techniques that yield a course of action.
Big Data
✓✓ 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
, ACCURACY IS GUARANTEED
✓✓ The process of using procedures from statistics and
computer science to extract useful information from extremely
large databases.
Frequency Distribution
✓✓ A tabular summary of data showing the number
(frequency) of observations in each of several nonoverlapping
categories or classes.
Relative Frequency Distribution
✓✓ A tabular summary of data showing the fraction or
proportion of observations in each of several nonoverlapping
categories or classes.
Percent Frequency Distribution
✓✓ A tabular summary of data showing the percentage of
observations in each of several nonoverlapping classes.
Bar Chart
✓✓ A graphical device for depicting categorical data that have
been summarized in a frequency, relative frequency, or percent
frequency distribution.
Pie Chart
✓✓ 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
, ACCURACY IS GUARANTEED
✓✓ the value halfway between the lower and upper class limits
Dot Plot
✓✓ a graphical device that summarizes data by the number of
dots above each data value on the horizontal axis
Histogram
✓✓ 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
✓✓ 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
✓✓ 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.
Cumulative Percent Frequency Distribution
✓✓ A tabular summary of quantitative data showing the
percentage of data values that are less than or equal to the
upper class limit of each class.
Stem-and-leaf Display
