QMB 3200 Exam 1 Study Guide (UCF –
Gary Bliss / Ansel Diama) | Business
Statistics Q&A, 2025/2026 Edition.
What is considered to be the language of data?
statistics
What are the two main branches of statistics?
descriptive statistics and inferential statistics
What is descriptive statistics?
the summary of a data set in the form of tables, graphs, or the calculation of numerical values
What is inferential statistics?
extracting useful information from a sample to draw conclusions about a population
What is data?
the numbers, facts, and figures that are collected, analyzed, and summarized for presentation
and interpretation; not all data start as numbers, but they can be converted to numbers
What are elements?
the entities on which data are collected
What are variables?
characteristics of interest
What are observations?
measurements collected on each variable of the element
How do you find the total number of data values in a complete data set?
(# of elements)(# of variables)
What are the two types of data?
categorical and quantitative
What type of data can be either numeric or non-numeric?
, Categorical
What type of data can only be numerical?
Quantitative
What are the two scales of measurement for numeric categorical data?
nominal and ordinal
What are the two scales of measurement for non-numeric categorical data?
nominal and ordinal
What are the two scales of measurement for numeric quantitative data?
interval and ratio
What is categorical data?
data that are grouped by categories; can be either numeric or non-numeric
What is another term for categorical data?
qualitative data
What is quantitative data?
data with numerical values
In order of the one that gives the least amount of information to the one that gives the most,
what are the four scales of measurement?
nominal, ordinal, interval, and ratio
What is nominal data?
data that are labels or names; no intrinsic order; can be numeric or non-numeric
Give an example of nominal data.
-type of housing you live in (e.g. single family, apartment, condo)
-what state you live in
-brand name (e.g. car - ford, chevy)
What is ordinal data?
nominal in nature but has an order; can be numeric or non-numeric
Give an example of ordinal data.
Gary Bliss / Ansel Diama) | Business
Statistics Q&A, 2025/2026 Edition.
What is considered to be the language of data?
statistics
What are the two main branches of statistics?
descriptive statistics and inferential statistics
What is descriptive statistics?
the summary of a data set in the form of tables, graphs, or the calculation of numerical values
What is inferential statistics?
extracting useful information from a sample to draw conclusions about a population
What is data?
the numbers, facts, and figures that are collected, analyzed, and summarized for presentation
and interpretation; not all data start as numbers, but they can be converted to numbers
What are elements?
the entities on which data are collected
What are variables?
characteristics of interest
What are observations?
measurements collected on each variable of the element
How do you find the total number of data values in a complete data set?
(# of elements)(# of variables)
What are the two types of data?
categorical and quantitative
What type of data can be either numeric or non-numeric?
, Categorical
What type of data can only be numerical?
Quantitative
What are the two scales of measurement for numeric categorical data?
nominal and ordinal
What are the two scales of measurement for non-numeric categorical data?
nominal and ordinal
What are the two scales of measurement for numeric quantitative data?
interval and ratio
What is categorical data?
data that are grouped by categories; can be either numeric or non-numeric
What is another term for categorical data?
qualitative data
What is quantitative data?
data with numerical values
In order of the one that gives the least amount of information to the one that gives the most,
what are the four scales of measurement?
nominal, ordinal, interval, and ratio
What is nominal data?
data that are labels or names; no intrinsic order; can be numeric or non-numeric
Give an example of nominal data.
-type of housing you live in (e.g. single family, apartment, condo)
-what state you live in
-brand name (e.g. car - ford, chevy)
What is ordinal data?
nominal in nature but has an order; can be numeric or non-numeric
Give an example of ordinal data.
