SNHU MAT 240 COMPREHENSIVE EXAM
STUDY GUIDE WITH COMPLETE
SOLUTIONS
●● Inferential statistics
Answer: methods that are used to draw conclusions from data
●● Data analytics
Answer: the field of analyzing data to gain insight, draw conclusions, or
make decisions
●● Descriptive data analysis
Answer: data analysis that seeks to describe data, providing insight and
knowledge. Ex: based on collected data, the world population in 2015 is
about 7 billion people.
●● Predictive data analysis
Answer: data analysis that seeks to make predictions from data. Ex:
Using models based on birth rates, death rates, medical care
improvements, and other data, the UN predicts the world population will
reach 11.2 billion in 2100.
●● Prescriptive data analysis
, Answer: data analysis that seeks to make decisions (prescriptions) based
on data. Ex: Population predictions for specific countries help the United
Nations decide where to focus agricultural development efforts.
●● Variable
Answer: an item that can have different ('varying') values
●● Quantitative variable
Answer: A variable that can take on a numeric value which can be
measured and ordered.
●● Categorical variable
Answer: A variable that can take on the value (usually a label) of one of
several categories
●● Qualitative variable
Answer: Another term for categorical variable (known by qualities rather
than quantities)
●● Nominal variable
Answer: A type of categorical variable which has no ordering, existing
in name only
●● Ordinal variable
STUDY GUIDE WITH COMPLETE
SOLUTIONS
●● Inferential statistics
Answer: methods that are used to draw conclusions from data
●● Data analytics
Answer: the field of analyzing data to gain insight, draw conclusions, or
make decisions
●● Descriptive data analysis
Answer: data analysis that seeks to describe data, providing insight and
knowledge. Ex: based on collected data, the world population in 2015 is
about 7 billion people.
●● Predictive data analysis
Answer: data analysis that seeks to make predictions from data. Ex:
Using models based on birth rates, death rates, medical care
improvements, and other data, the UN predicts the world population will
reach 11.2 billion in 2100.
●● Prescriptive data analysis
, Answer: data analysis that seeks to make decisions (prescriptions) based
on data. Ex: Population predictions for specific countries help the United
Nations decide where to focus agricultural development efforts.
●● Variable
Answer: an item that can have different ('varying') values
●● Quantitative variable
Answer: A variable that can take on a numeric value which can be
measured and ordered.
●● Categorical variable
Answer: A variable that can take on the value (usually a label) of one of
several categories
●● Qualitative variable
Answer: Another term for categorical variable (known by qualities rather
than quantities)
●● Nominal variable
Answer: A type of categorical variable which has no ordering, existing
in name only
●● Ordinal variable
