UCF QMB3200 Midterm Study Complete
Latest Actual Questions and
verified/correct Answers
Analytics - ANSWER-the scientific process of transforming data into insight for making better decisions
Descriptive Analytics - ANSWER-Analytical techniques that describe what has happened in the past.
Predictive Analytics - ANSWER-Analytical techniques that use models constructed from past data to
predict the future or assess the impact of one variable on another.
Prescriptive Analytics - ANSWER-Analytical techniques that yield a course of action.
Big Data - ANSWER-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 - ANSWER-The process of using procedures from statistics and computer science to extract
useful information from extremely large databases.
Frequency Distribution - ANSWER-A tabular summary of data showing the number (frequency) of
observations in each of several nonoverlapping categories or classes.
Relative Frequency Distribution - ANSWER-A tabular summary of data showing the fraction or proportion
of observations in each of several nonoverlapping categories or classes.
Percent Frequency Distribution - ANSWER-A tabular summary of data showing the percentage of
observations in each of several nonoverlapping classes.
Bar Chart - ANSWER-A graphical device for depicting categorical data that have been summarized in a
frequency, relative frequency, or percent frequency distribution.
Pie Chart - ANSWER-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 - ANSWER-the value halfway between the lower and upper class limits
Dot Plot - ANSWER-a graphical device that summarizes data by the number of dots above each data
value on the horizontal axis
Histogram - ANSWER-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 - ANSWER-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 - ANSWER-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 - ANSWER-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 - ANSWER-a graphical display used to show simultaneously the rank order and
shape of a distribution of data
Crosstabulation - ANSWER-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 - ANSWER-Conclusions drawn from two or more separate crosstabulations that can
be reversed when the data are aggregated into a single crosstabulation.
Scatter Diagram - ANSWER-A graphical display of the relationship between two quantitative variables.
One variable is shown on the horizontal axis and the other variable is shown on the vertical axis.
Trendline - ANSWER-a line that provides an approximation of the relationship between two variables
Side-by-side Bar Chart - ANSWER-a graphical display for depicting multiple bar charts on the same
display
Stacked Bar Chart - ANSWER-A bar chart in which each bar is broken into rectangular segments of a
different color showing the relative frequency of each class in a manner similar to a pie chart.
Mean - ANSWER-a measure of central location computed by summing the data values and dividing by
the number of observations.
Excel: Mean - ANSWER-=AVERAGE()
Median - ANSWER-A measure of central location provided by the value in the middle when the data are
arranged in ascending order.
Excel: median - ANSWER-=MEDIAN()
Mode - ANSWER-A measure of location, defined as the value that occurs with greatest frequency.
Excel: mode - ANSWER-=MODE.SNGL()
Weighted Mean - ANSWER-the mean obtained by assigning each observation a weight that reflects its
importance
Geometric Mean - ANSWER-A measure of location that is calculated by finding the nth root of the
product of n values.
Excel: geometric mean - ANSWER-=GEOMEAN()
Percentile - ANSWER-A value that provides information about how the data are spread over the interval
from the smallest to the largest value.
Excel: Percentile - ANSWER-=PERCENTILE.EXC(A1:AX, k) where x is the last row of column A and k is the
percentile value you are looking for.
Quartiles - ANSWER-The 25th, 50th, and 75th percentiles, referred to as the first quartile, the second
quartile (median), and third quartile, respectively. The quartiles can be used to divide a data set into four
parts, with each part containing approximately 25% of the data.
Excel: Quartiles - ANSWER-=QUARTILE.EXC(A1:AX, quart) where X is the last row of column A.
Range - ANSWER-A measure of variability, defined to be the largest value minus the smallest value.
Excel: Range - ANSWER-=MAX(A1,AX)-MIN(A1,AX)
Interquartile Range (IQR) - ANSWER-A measure of variability, defined to be the difference between the
third and first quartiles.
Excel: IQR - ANSWER-=QUARTILE.EXC (A1:AX, 3) - QUARTILE.EXC (A1:AX, 1)
Variance - ANSWER-A measure of variability based on the squared deviations of the data values about
the mean
Excel: Variance - ANSWER-=VAR.S()
Standard Deviation - ANSWER-A measure of variability computed by taking the positive square root of
the variance.
Latest Actual Questions and
verified/correct Answers
Analytics - ANSWER-the scientific process of transforming data into insight for making better decisions
Descriptive Analytics - ANSWER-Analytical techniques that describe what has happened in the past.
Predictive Analytics - ANSWER-Analytical techniques that use models constructed from past data to
predict the future or assess the impact of one variable on another.
Prescriptive Analytics - ANSWER-Analytical techniques that yield a course of action.
Big Data - ANSWER-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 - ANSWER-The process of using procedures from statistics and computer science to extract
useful information from extremely large databases.
Frequency Distribution - ANSWER-A tabular summary of data showing the number (frequency) of
observations in each of several nonoverlapping categories or classes.
Relative Frequency Distribution - ANSWER-A tabular summary of data showing the fraction or proportion
of observations in each of several nonoverlapping categories or classes.
Percent Frequency Distribution - ANSWER-A tabular summary of data showing the percentage of
observations in each of several nonoverlapping classes.
Bar Chart - ANSWER-A graphical device for depicting categorical data that have been summarized in a
frequency, relative frequency, or percent frequency distribution.
Pie Chart - ANSWER-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 - ANSWER-the value halfway between the lower and upper class limits
Dot Plot - ANSWER-a graphical device that summarizes data by the number of dots above each data
value on the horizontal axis
Histogram - ANSWER-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 - ANSWER-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 - ANSWER-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 - ANSWER-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 - ANSWER-a graphical display used to show simultaneously the rank order and
shape of a distribution of data
Crosstabulation - ANSWER-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 - ANSWER-Conclusions drawn from two or more separate crosstabulations that can
be reversed when the data are aggregated into a single crosstabulation.
Scatter Diagram - ANSWER-A graphical display of the relationship between two quantitative variables.
One variable is shown on the horizontal axis and the other variable is shown on the vertical axis.
Trendline - ANSWER-a line that provides an approximation of the relationship between two variables
Side-by-side Bar Chart - ANSWER-a graphical display for depicting multiple bar charts on the same
display
Stacked Bar Chart - ANSWER-A bar chart in which each bar is broken into rectangular segments of a
different color showing the relative frequency of each class in a manner similar to a pie chart.
Mean - ANSWER-a measure of central location computed by summing the data values and dividing by
the number of observations.
Excel: Mean - ANSWER-=AVERAGE()
Median - ANSWER-A measure of central location provided by the value in the middle when the data are
arranged in ascending order.
Excel: median - ANSWER-=MEDIAN()
Mode - ANSWER-A measure of location, defined as the value that occurs with greatest frequency.
Excel: mode - ANSWER-=MODE.SNGL()
Weighted Mean - ANSWER-the mean obtained by assigning each observation a weight that reflects its
importance
Geometric Mean - ANSWER-A measure of location that is calculated by finding the nth root of the
product of n values.
Excel: geometric mean - ANSWER-=GEOMEAN()
Percentile - ANSWER-A value that provides information about how the data are spread over the interval
from the smallest to the largest value.
Excel: Percentile - ANSWER-=PERCENTILE.EXC(A1:AX, k) where x is the last row of column A and k is the
percentile value you are looking for.
Quartiles - ANSWER-The 25th, 50th, and 75th percentiles, referred to as the first quartile, the second
quartile (median), and third quartile, respectively. The quartiles can be used to divide a data set into four
parts, with each part containing approximately 25% of the data.
Excel: Quartiles - ANSWER-=QUARTILE.EXC(A1:AX, quart) where X is the last row of column A.
Range - ANSWER-A measure of variability, defined to be the largest value minus the smallest value.
Excel: Range - ANSWER-=MAX(A1,AX)-MIN(A1,AX)
Interquartile Range (IQR) - ANSWER-A measure of variability, defined to be the difference between the
third and first quartiles.
Excel: IQR - ANSWER-=QUARTILE.EXC (A1:AX, 3) - QUARTILE.EXC (A1:AX, 1)
Variance - ANSWER-A measure of variability based on the squared deviations of the data values about
the mean
Excel: Variance - ANSWER-=VAR.S()
Standard Deviation - ANSWER-A measure of variability computed by taking the positive square root of
the variance.
