9/10/25, 7:54 AM QMB 3200 Midterm UCF EXAM Questions and Answers (Verified Answers) (Latest Update 2025) UPDATE!! Flashcards | Quizlet
QMB 3200 Midterm UCF EXAM Questions and
Answers (Verified Answers) (Latest Update 2025)
UPDATE!!
Save
Terms in this set (59)
the facts and figures collected, analyzed, and
Data
summarized for presentation and interpretation
Dataset all the data collected for a particular analysis
Element The entity on which data is collected
Variable A characteristic of interest of an element
Observation the variables associated with an individual element
The numeric or ordinal values of measurments of
Categorical
categories
Quantitative Use numeric (quantitative) values
Cross-Sectional Data collected at a similar point in time
Time Series Data collected over several time periods
Panel Combination of cross-sectional and time series data
Descriptive Statistics Describes the data or variables
Population is the set of all data/variables of a statistical analysis
Sample is a subset of the population
Uses data from a sample to make estimates and test
Statistical Inference
hypothesis about the characteristics of a population
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, 9/10/25, 7:54 AM QMB 3200 Midterm UCF EXAM Questions and Answers (Verified Answers) (Latest Update 2025) UPDATE!! Flashcards | Quizlet
1. Enter of Access Data
4 General Options for 2. Enter Functions and Formulas
Excel 3. Apply Tools
4. Editing Options
Descriptive Analytics Which described what has happened in the past
uses statistical models from
Predictive Analytics past data to predict the future [forecasting] or access
the impact of one variable on another [inference].
uses models seeking to find a best (optimal) solution.
Prescriptive Analytics
Often these are some type of optimization model.
Volume
The Difference between
Velocity
data and big data (4
Variety
things)
Veracity
Volume The number of observations
Velocity The speed at which data is collected
Variety The forms of data are of different types
Veracity The reliabiltiy of the data generated
Focuses on extracting predictive information from big
Data Mining
data.
A tabular summary of data showing the number
Frequency Distribution (frequency) of observations in each of several
nonoverlapping categories or classes.
Relative Frequency frequency of a class/ n of a class
Percent Frequency relative frequency x 100
a visual display of frequency; relative frequency &
Bar Chart
percent frequency distributions.
a visual display of frequency; relative frequency &
Pie Chart
percent frequency distributions.
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QMB 3200 Midterm UCF EXAM Questions and
Answers (Verified Answers) (Latest Update 2025)
UPDATE!!
Save
Terms in this set (59)
the facts and figures collected, analyzed, and
Data
summarized for presentation and interpretation
Dataset all the data collected for a particular analysis
Element The entity on which data is collected
Variable A characteristic of interest of an element
Observation the variables associated with an individual element
The numeric or ordinal values of measurments of
Categorical
categories
Quantitative Use numeric (quantitative) values
Cross-Sectional Data collected at a similar point in time
Time Series Data collected over several time periods
Panel Combination of cross-sectional and time series data
Descriptive Statistics Describes the data or variables
Population is the set of all data/variables of a statistical analysis
Sample is a subset of the population
Uses data from a sample to make estimates and test
Statistical Inference
hypothesis about the characteristics of a population
https://quizlet.com/1074194181/qmb-3200-midterm-ucf-exam-questions-and-answers-verified-answers-latest-update-2025-update-flash-cards/ 1/6
, 9/10/25, 7:54 AM QMB 3200 Midterm UCF EXAM Questions and Answers (Verified Answers) (Latest Update 2025) UPDATE!! Flashcards | Quizlet
1. Enter of Access Data
4 General Options for 2. Enter Functions and Formulas
Excel 3. Apply Tools
4. Editing Options
Descriptive Analytics Which described what has happened in the past
uses statistical models from
Predictive Analytics past data to predict the future [forecasting] or access
the impact of one variable on another [inference].
uses models seeking to find a best (optimal) solution.
Prescriptive Analytics
Often these are some type of optimization model.
Volume
The Difference between
Velocity
data and big data (4
Variety
things)
Veracity
Volume The number of observations
Velocity The speed at which data is collected
Variety The forms of data are of different types
Veracity The reliabiltiy of the data generated
Focuses on extracting predictive information from big
Data Mining
data.
A tabular summary of data showing the number
Frequency Distribution (frequency) of observations in each of several
nonoverlapping categories or classes.
Relative Frequency frequency of a class/ n of a class
Percent Frequency relative frequency x 100
a visual display of frequency; relative frequency &
Bar Chart
percent frequency distributions.
a visual display of frequency; relative frequency &
Pie Chart
percent frequency distributions.
https://quizlet.com/1074194181/qmb-3200-midterm-ucf-exam-questions-and-answers-verified-answers-latest-update-2025-update-flash-cards/ 2/6
