ISDS 361A FINAL EXAM SCRIPT 2026
COMPLETE QUESTIONS ACCURATE
ANSWERS
◉ Data. Answer: the facts and figures collected, analyzed, and
summarized for presentation and interpretation
◉ information. Answer: Data converted into a meaningful and useful
context
◉ business decisions. Answer: these include strategic decisions (very
important ones which can affect the overall success of the business)
◉ Business Analytics. Answer: the scientific process of transforming
data into insight for making better business decisions.
◉ Data science. Answer: Managing and analyzing massive sets of data
for purposes such as target marketing, trend analysis, and the creation of
individually tailored products and services.
◉ Descriptive statistics. Answer: Data that is summarized and presented
in a form that is easy for the reader to understand.
-statistical information in newspapers, magazines, company reports, and
other publications
--summaries of data which may be tabular, graphical, or numerical.
, ◉ inferential statistics. Answer: statistics using data from a sample to
make estimates and test hypotheses about the characteristics of a
population.
-goes beyond the data at our disposal.
-drawing conclusions. large set of data: population, which is based on
smaller set of sample data.
◉ population. Answer: the set of all elements of interest in a particular
study.
◉ sample. Answer: a subset of the population
◉ Parameter. Answer: a descriptive measure of the population that is of
interest.
- EX: the mean, mu
◉ statistic. Answer: a descriptive measure that is calculated from the
sample.
EX: the sample mean
COMPLETE QUESTIONS ACCURATE
ANSWERS
◉ Data. Answer: the facts and figures collected, analyzed, and
summarized for presentation and interpretation
◉ information. Answer: Data converted into a meaningful and useful
context
◉ business decisions. Answer: these include strategic decisions (very
important ones which can affect the overall success of the business)
◉ Business Analytics. Answer: the scientific process of transforming
data into insight for making better business decisions.
◉ Data science. Answer: Managing and analyzing massive sets of data
for purposes such as target marketing, trend analysis, and the creation of
individually tailored products and services.
◉ Descriptive statistics. Answer: Data that is summarized and presented
in a form that is easy for the reader to understand.
-statistical information in newspapers, magazines, company reports, and
other publications
--summaries of data which may be tabular, graphical, or numerical.
, ◉ inferential statistics. Answer: statistics using data from a sample to
make estimates and test hypotheses about the characteristics of a
population.
-goes beyond the data at our disposal.
-drawing conclusions. large set of data: population, which is based on
smaller set of sample data.
◉ population. Answer: the set of all elements of interest in a particular
study.
◉ sample. Answer: a subset of the population
◉ Parameter. Answer: a descriptive measure of the population that is of
interest.
- EX: the mean, mu
◉ statistic. Answer: a descriptive measure that is calculated from the
sample.
EX: the sample mean
