UCF QMB3200 Midterm Exam study
Questions and Answers
Analytics - ANSWER-the scientific process of transforming data into insight for
making better decisions
Descriptive Analytics - ANSWER-Analytical techniques that describe what has
happened in the past.
Predictive Analytics - ANSWER-Analytical techniques that use models constructed
from past data to predict the future or assess the impact of one variable on another.
Prescriptive Analytics - ANSWER-Analytical techniques that yield a course of action.
Big Data - ANSWER-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 - ANSWER-The process of using procedures from statistics and
computer science to extract useful information from extremely large databases.
Frequency Distribution - ANSWER-A tabular summary of data showing the number
(frequency) of observations in each of several nonoverlapping categories or classes.
Relative Frequency Distribution - ANSWER-A tabular summary of data showing the
fraction or proportion of observations in each of several nonoverlapping categories
or classes.
Percent Frequency Distribution - ANSWER-A tabular summary of data showing the
percentage of observations in each of several nonoverlapping classes.
Bar Chart - ANSWER-A graphical device for depicting categorical data that have
been summarized in a frequency, relative frequency, or percent frequency
distribution.
Pie Chart - ANSWER-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 - ANSWER-the value halfway between the lower and upper class
limits
Dot Plot - ANSWER-a graphical device that summarizes data by the number of dots
above each data value on the horizontal axis
Histogram - ANSWER-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 - ANSWER-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 - ANSWER-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 - ANSWER-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 - ANSWER-a graphical display used to show simultaneously
the rank order and shape of a distribution of data
Crosstabulation - ANSWER-A tabular summary of data for two variables. The classes
for one variable are represented by the rows; the classes for the other variable are
represented by the columns.
Simpson's Paradox - ANSWER-Conclusions drawn from two or more separate
crosstabulations that can be reversed when the data are aggregated into a single
crosstabulation.
Scatter Diagram - ANSWER-A graphical display of the relationship between two
quantitative variables. One variable is shown on the horizontal axis and the other
variable is shown on the vertical axis.
Trendline - ANSWER-a line that provides an approximation of the relationship
between two variables
Side-by-side Bar Chart - ANSWER-a graphical display for depicting multiple bar
charts on the same display
Stacked Bar Chart - ANSWER-A bar chart in which each bar is broken into
rectangular segments of a different color showing the relative frequency of each
class in a manner similar to a pie chart.
Mean - ANSWER-a measure of central location computed by summing the data
values and dividing by the number of observations.
Excel: Mean - ANSWER-=AVERAGE()
Median - ANSWER-A measure of central location provided by the value in the middle
when the data are arranged in ascending order.
Excel: median - ANSWER-=MEDIAN()
Mode - ANSWER-A measure of location, defined as the value that occurs with
greatest frequency.
Excel: mode - ANSWER-=MODE.SNGL()
Questions and Answers
Analytics - ANSWER-the scientific process of transforming data into insight for
making better decisions
Descriptive Analytics - ANSWER-Analytical techniques that describe what has
happened in the past.
Predictive Analytics - ANSWER-Analytical techniques that use models constructed
from past data to predict the future or assess the impact of one variable on another.
Prescriptive Analytics - ANSWER-Analytical techniques that yield a course of action.
Big Data - ANSWER-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 - ANSWER-The process of using procedures from statistics and
computer science to extract useful information from extremely large databases.
Frequency Distribution - ANSWER-A tabular summary of data showing the number
(frequency) of observations in each of several nonoverlapping categories or classes.
Relative Frequency Distribution - ANSWER-A tabular summary of data showing the
fraction or proportion of observations in each of several nonoverlapping categories
or classes.
Percent Frequency Distribution - ANSWER-A tabular summary of data showing the
percentage of observations in each of several nonoverlapping classes.
Bar Chart - ANSWER-A graphical device for depicting categorical data that have
been summarized in a frequency, relative frequency, or percent frequency
distribution.
Pie Chart - ANSWER-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 - ANSWER-the value halfway between the lower and upper class
limits
Dot Plot - ANSWER-a graphical device that summarizes data by the number of dots
above each data value on the horizontal axis
Histogram - ANSWER-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 - ANSWER-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 - ANSWER-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 - ANSWER-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 - ANSWER-a graphical display used to show simultaneously
the rank order and shape of a distribution of data
Crosstabulation - ANSWER-A tabular summary of data for two variables. The classes
for one variable are represented by the rows; the classes for the other variable are
represented by the columns.
Simpson's Paradox - ANSWER-Conclusions drawn from two or more separate
crosstabulations that can be reversed when the data are aggregated into a single
crosstabulation.
Scatter Diagram - ANSWER-A graphical display of the relationship between two
quantitative variables. One variable is shown on the horizontal axis and the other
variable is shown on the vertical axis.
Trendline - ANSWER-a line that provides an approximation of the relationship
between two variables
Side-by-side Bar Chart - ANSWER-a graphical display for depicting multiple bar
charts on the same display
Stacked Bar Chart - ANSWER-A bar chart in which each bar is broken into
rectangular segments of a different color showing the relative frequency of each
class in a manner similar to a pie chart.
Mean - ANSWER-a measure of central location computed by summing the data
values and dividing by the number of observations.
Excel: Mean - ANSWER-=AVERAGE()
Median - ANSWER-A measure of central location provided by the value in the middle
when the data are arranged in ascending order.
Excel: median - ANSWER-=MEDIAN()
Mode - ANSWER-A measure of location, defined as the value that occurs with
greatest frequency.
Excel: mode - ANSWER-=MODE.SNGL()
