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QMB3302 Final Exam: UF Business Statistics Fall Semester [Version 1] | Study Guide

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Prepare for your University of Florida QMB3302 Final Exam with this Version 1 PDF from the Fall semester. Covers key business analytics and quantitative methods topics, including regression analysis, forecasting, probability, and statistical inference. Includes essential formulas and practice problems for comprehensive review.

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QMB3302 UF FALL Final Exam Version
1,2&3 (3 Latest Versions) Newest 2025/2026
With Complete Questions And Correct
Answers |Already Graded A+||Brand New
Version!



The correct number of clusters in Hierarchical clustering
can be determined precisely using approaches such as
silhouette scores (True or False) - . . ANSWER ✔
✔False


In K Means clustering, the analyst does not need to
determine the number of clusters (K), these are always
derived analytically using the kmeans algorithm. (True or
False) - . . ANSWER ✔ ✔False


One big difference between the unsupervised approaches
in this module, and the supervised approaches in prior
modules: Unsupervised models do not have a target
variable (Y). This make is difficult to know when they are
"right" or correct. (True or False) - . . ANSWER ✔
✔True

,2|Page


According to the documentation, a silhouette scores of 1 ia
- . . ANSWER ✔ ✔The best score


According to the documentation, a silhouette score of -1 is
- . . ANSWER ✔ ✔The worst score


Select all that apply. Imagine you have a data set with
columns/inputs for customers:


Column 1 = Customer ID (a number)


Column 2 = Sales (a dollar value)


Column 3= Frequency (a number)


Column 4 = Satisfaction (a number)


You would like to understand the impact of Frequency on
customer Satisfaction. What types of approaches could you
use?

,3|Page


Note that the type of data is brackets () after the column
name. - . . ANSWER ✔ ✔Decision tree, random forest,
linear regression


Select all that apply. Imagine you have a dataset with the
following columns (inputs) for a set of customers.


Column 1 = Customer ID


Column 2 = Distance to Store


Column 3= Yearly spend


Column 4 = Likelihood to return (a survey response that
indicates a customer is likely to shop again)


What kind of approaches could you use to understand
more about these customers? Why? - . . ANSWER ✔
✔Regression - to udnerstand the effect of one or more
variables on the others
Clustering-to develop groups of customers that have
similar patterns

, 4|Page


What is the purpose of the following code?


from sklearn.preprocessing import StandardScaler
scale = StandardScaler()
rfm_std = scale.fit_transform(df) - . . ANSWER ✔ ✔To
standardize the data


The elbow method provides an exact number of clusters
for a kmeans algorithm. (True or False) - . . ANSWER ✔
✔False


Hierarchical clustering is more powerful than Kmeans, as
it allows the researcher to determine the exact number of
clusters to use in the analysis. (True or False) - . .
ANSWER ✔ ✔False


In kmeans- the algorithm has multiple iterations. If we
have a simple 2d problem, and a k =2, it begins by
assigning the first centroids to - . . ANSWER ✔ ✔A
random initial starting point


In kmeans- the algorithm has multiple iterations. If we
have a simple 2d problem, and a k =2. After the initial

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