QMB 3200 Exam Verified Questions with Correct Answers Graded A+
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Course
QMB 3200
Institution
QMB 3200
QMB 3200 Exam Verified Questions with Correct Answers Graded A+
Data
facts and figures collected, analyzed, or summarized
Dataset
all the data collected in an analysis
Element
the entity on which data is collected
Variable
characteristic of interest of an element
Observation
all variabl...
qmb 3200 exam verified questions with correct answ
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QMB 3200 Exam Verified Questions with Correct Answers
Graded A+
Data
facts and figures collected, analyzed, or summarized
Dataset
all the data collected in an analysis
Element
the entity on which data is collected
Variable
characteristic of interest of an element
Observation
all variables associated
Categorical
numeric or ordinal values of measurement
Quantitative
uses numeric measures
Cross Sectional
data collected at a similar point in time
Time Series
data collected over a series of time periods
Panel
combination of cross sectional and time series data
Descriptive Staistics
describes the data or variables
Population
set of all data/variables n statistical analysis
Sample
, subset of the population
Statistical inference
uses data from a sample to make estimates and test hypothesis about the characteristics of a population
Descriptive Analytics
describes what has happened in the past
Predictive Analytics
statistical models from he pas to predict the future or access the impact of one variable on another
Prescriptive Analytics
uses models seeking to find an optimal solution (type of optimization model)
Volume
number of observations
Velocity
speed data is collected
Variety
forms of data are of different types
Veracity
reliability of the data generated
Data Mining
focuses on extracting predictive information from Big Data
Frequency Distribution
tabular summary of data showing the number of observations in each of several non overlapping
categories
Percent Frequency
relative frequency * 100
Relative Frequency
(frequency of class)/(n)
cumulative relative frequency
shows the proportion of items with values less than or equal to the upper limit of each class
cumulative percentage
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