UCF QMB3200 MIDTERM STUDY WITH
COMPLETE SOLUTIONS
Analytics - Correct Answers -the scientific process of transforming data into insight for
making better decisions
Descriptive Analytics - Correct Answers -Analytical techniques that describe what has
happened in the past.
Predictive Analytics - Correct Answers -Analytical techniques that use models
constructed from past data to predict the future or assess the impact of one variable on
another.
Prescriptive Analytics - Correct Answers -Analytical techniques that yield a course of
action.
Big Data - Correct Answers -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 - Correct Answers -The process of using procedures from statistics and
computer science to extract useful information from extremely large databases.
Frequency Distribution - Correct Answers -A tabular summary of data showing the
number (frequency) of observations in each of several nonoverlapping categories or
classes.
Relative Frequency Distribution - Correct Answers -A tabular summary of data showing
the fraction or proportion of observations in each of several nonoverlapping categories
or classes.
Percent Frequency Distribution - Correct Answers -A tabular summary of data showing
the percentage of observations in each of several nonoverlapping classes.
Bar Chart - Correct Answers -A graphical device for depicting categorical data that have
been summarized in a frequency, relative frequency, or percent frequency distribution.
Pie Chart - Correct Answers -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 - Correct Answers -the value halfway between the lower and upper class
limits
Marginal Probabilities - Correct Answers -the values in the margins of a joint probability
table that provide the probabilities of each event separately
Independent Events - Correct Answers -Two events A and B where P(A | B) = P(A) or
P(B | A) = P(B); that is, the events have no influence on each other.
Multiplication Law - Correct Answers -a probability law used to compute the probability
of the intersection of two events. It is P(A ∩ B) = P(B)P(A | B) or P(A ∩ B) = P(A)P(B |
A). For independent events it reduces to, P(A ∩ B) = P(A)P(B)
Dot Plot - Correct Answers -a graphical device that summarizes data by the number of
dots above each data value on the horizontal axis
Histogram - Correct Answers -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 - Correct Answers -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 - Correct Answers -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 - Correct Answers -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 - Correct Answers -a graphical display used to show
simultaneously the rank order and shape of a distribution of data
Crosstabulation - Correct Answers -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 - Correct Answers -Conclusions drawn from two or more separate
crosstabulations that can be reversed when the data are aggregated into a single
crosstabulation.
COMPLETE SOLUTIONS
Analytics - Correct Answers -the scientific process of transforming data into insight for
making better decisions
Descriptive Analytics - Correct Answers -Analytical techniques that describe what has
happened in the past.
Predictive Analytics - Correct Answers -Analytical techniques that use models
constructed from past data to predict the future or assess the impact of one variable on
another.
Prescriptive Analytics - Correct Answers -Analytical techniques that yield a course of
action.
Big Data - Correct Answers -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 - Correct Answers -The process of using procedures from statistics and
computer science to extract useful information from extremely large databases.
Frequency Distribution - Correct Answers -A tabular summary of data showing the
number (frequency) of observations in each of several nonoverlapping categories or
classes.
Relative Frequency Distribution - Correct Answers -A tabular summary of data showing
the fraction or proportion of observations in each of several nonoverlapping categories
or classes.
Percent Frequency Distribution - Correct Answers -A tabular summary of data showing
the percentage of observations in each of several nonoverlapping classes.
Bar Chart - Correct Answers -A graphical device for depicting categorical data that have
been summarized in a frequency, relative frequency, or percent frequency distribution.
Pie Chart - Correct Answers -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 - Correct Answers -the value halfway between the lower and upper class
limits
Marginal Probabilities - Correct Answers -the values in the margins of a joint probability
table that provide the probabilities of each event separately
Independent Events - Correct Answers -Two events A and B where P(A | B) = P(A) or
P(B | A) = P(B); that is, the events have no influence on each other.
Multiplication Law - Correct Answers -a probability law used to compute the probability
of the intersection of two events. It is P(A ∩ B) = P(B)P(A | B) or P(A ∩ B) = P(A)P(B |
A). For independent events it reduces to, P(A ∩ B) = P(A)P(B)
Dot Plot - Correct Answers -a graphical device that summarizes data by the number of
dots above each data value on the horizontal axis
Histogram - Correct Answers -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 - Correct Answers -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 - Correct Answers -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 - Correct Answers -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 - Correct Answers -a graphical display used to show
simultaneously the rank order and shape of a distribution of data
Crosstabulation - Correct Answers -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 - Correct Answers -Conclusions drawn from two or more separate
crosstabulations that can be reversed when the data are aggregated into a single
crosstabulation.
