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