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UCF QMB 3200 FINAL Exam Questions with 100% Correct Answers | Latest Version (2024/2025) Expert Verified $14.99   Add to cart
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UCF QMB 3200 FINAL Exam Questions with 100% Correct Answers | Latest Version (2024/2025) Expert Verified
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  • UCF QMB 3200
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  • UCF QMB 3200

UCF QMB 3200 FINAL Exam Questions with 100% Correct Answers | Latest Version (2024/2025) Expert Verified

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  • October 21, 2024
  • 52
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • UCF QMB 3200
  • UCF QMB 3200

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UCF QMB 3200 FINAL Exam Questions with
100% Correct Answers | Latest Version
(2024/2025) Expert Verified

Dataseti-iCorrectiAnswer-allitheidataicollectediforiaiparticularianalysis


Datai-iCorrectiAnswer-
Theifactsi&ifiguresicollected,ianalyzed,iandisummarizediforipresentatio
niandiinterpretation.


Elementi-iCorrectiAnswer-Theientityioniwhichidataiisicollected.


Variablei-iCorrectiAnswer-aicharacteristiciofiinterestiofianielement.


Observationi-iCorrectiAnswer-
Theivariablesiassociatediwithianiindividualielement.


CategoricaliDatai-iCorrectiAnswer-
Useinumericioriordinalivaluesiofimeasurementioficategories.


QuantitativeiDatai-iCorrectiAnswer-
useinumerici(quantitative)imeasures

,Cross-sectionaliDatai-iCorrectiAnswer-dataicollectediatiaisimilaripointiin
time.


TimeiSeriesi-iCorrectiAnswer-dataicollectedioveriseveralitimeiperiods.


PaneliDatai-iCorrectiAnswer-combinationioficross-
sectionalianditimeiseriesidata.


DescriptiveiStatisticsi-iCorrectiAnswer-Describesidataiorivariables


Populationi-iCorrectiAnswer-
Isitheisetiofiallidata/variablesiofiaistatisticalianalysis.


Samplei-iCorrectiAnswer-isiaisubsetiofitheipopulation


StatisticaliInference:i-iCorrectiAnswer-
Usesidataifromiaisampleitoimakeiestimatesianditestihypothesisiaboutith
eicharacteristicsiofiaipopulation.


Whatidoesirowi1iusuallyicontainiiniExcel?i-iCorrectiAnswer-
Typicallyicontainsitheivariable'sinames.


WhatidoesiColumniAiusuallyicontainiiniExcel?i-iCorrectiAnswer-
containsitheielements;ianditheirestiofithe

,worksheeticontainsitheidataiinitheidataset.


Howidoiyouicalculateitheimeaniiniexcel?i-iCorrectiAnswer-=Average


Howidoiyouicalculateitheimedianiiniexcel?i-iCorrectiAnswer-=median


Whatiisidataianalytics?i-iCorrectiAnswer-
theiscientificiprocessiofitransformingidata
foridecisionimaking.iThereiareithreeibroadiareasiof
dataianalytics.


DescriptiveiAnalyticsi-iCorrectiAnswer-
describeiwhatihasihappenediinitheipast.


PredictiveiAnalyticsi-iCorrectiAnswer-usesistatisticalimodelsifrom
pastidataitoipredictitheifuturei[forecasting]ioriaccess
theiimpactiofioneivariableionianotheri[inference].


PrescriptiveiAnalyticsi-iCorrectiAnswer-
usesimodelsiseekingitoifindiaibesti(optimal)isolution.iOftenitheseiareiso
metypeiofioptimizationimodel.

, Theidifferenceibetweenidataiandibigidataiarei-iCorrectiAnswer-
Weiwilliuseidatai(notibigidata)
1.iVolumei-itheinumberiofiobservations.
2.iVelocityi-itheispeediatiwhichidataiisicollected.
3.iVarietyi-itheiformsiofidataiareiofidifferentitypes.
4.iVeracityi-itheireliabilityiofitheidataigenerated.


DataiMiningi-iCorrectiAnswer-
Focusesioniextractingipredictiveiinformationifromibig
data.


FrequencyiDistributioni-iCorrectiAnswer-
aitabularisummaryiofidatashowingitheinumberi(i.e.ifrequency)iofiobserv
ationsinieachiofiseveralinoniover-lappingicategories.


RelativeiFrequencyi-iCorrectiAnswer-frequencyiofiaiclass/iniofiaiclass


PercentiFrequencyi-iCorrectiAnswer-relativeifrequencyixi100


BariChart:i-iCorrectiAnswer-aivisualidisplayiofifrequency;irelative
frequencyi&ipercentifrequencyidistributions.

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