UCF QMB3200 UPDATED ACTUAL Exam
Questions and CORRECT Answers
Data - CORRECT ANSWER the facts and figures collected, analyzed, and summarized
for presentation and interpretation
Dataset - CORRECT ANSWER all the data collected for a particular analysis
Element - CORRECT ANSWER the entity on which data is collected
Variable - CORRECT ANSWER a characteristic of interest for an element
Observation - CORRECT ANSWER the variables associated with an individual element
Categorical - CORRECT ANSWER use numeric or ordinal values of measurement of
categories
Quantitative - CORRECT ANSWER use numeric (quantitative) measures
Cross-sectional - CORRECT ANSWER data collected at a similar point in time
Time series - CORRECT ANSWER data collected over several time periods
Panel - CORRECT ANSWER
Descriptive statistics - CORRECT ANSWER describe data or variables
Population - CORRECT ANSWER is the set of all data/variables of a statical analysis
, Sample - CORRECT ANSWER is a 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.
confidence interval - CORRECT ANSWER is an interval estimate of the mean value of y
for a given value of x
predictor interval - CORRECT ANSWER is used when we want to predict an individual
value of y
the linear regression model - CORRECT ANSWER can be used to estimate the mean
value of y given 𝑥𝑖 or it can be used to predict the value of y for a given x.
𝐸(𝑦)=𝛽0+𝛽1𝑥
least squares method - CORRECT ANSWER Least squares is a method that minimizes the
sum of squared deviations between the observed values of variable 𝑦𝑖 and the predicted variable
^𝑦𝑖.
The difference between the observed value of the dependent variable and the value predicted
using the estimated regression equation is called a(n) - CORRECT ANSWER residual
hypothesis testing - CORRECT ANSWER can be used to determine whether a statement
about the value of a population parameter should or should not be rejected
A type I error occurs when - CORRECT ANSWER you reject null when it is true
Type II error (beta) - CORRECT ANSWER Accepting the alternative hypothesis when it
is false
Questions and CORRECT Answers
Data - CORRECT ANSWER the facts and figures collected, analyzed, and summarized
for presentation and interpretation
Dataset - CORRECT ANSWER all the data collected for a particular analysis
Element - CORRECT ANSWER the entity on which data is collected
Variable - CORRECT ANSWER a characteristic of interest for an element
Observation - CORRECT ANSWER the variables associated with an individual element
Categorical - CORRECT ANSWER use numeric or ordinal values of measurement of
categories
Quantitative - CORRECT ANSWER use numeric (quantitative) measures
Cross-sectional - CORRECT ANSWER data collected at a similar point in time
Time series - CORRECT ANSWER data collected over several time periods
Panel - CORRECT ANSWER
Descriptive statistics - CORRECT ANSWER describe data or variables
Population - CORRECT ANSWER is the set of all data/variables of a statical analysis
, Sample - CORRECT ANSWER is a 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.
confidence interval - CORRECT ANSWER is an interval estimate of the mean value of y
for a given value of x
predictor interval - CORRECT ANSWER is used when we want to predict an individual
value of y
the linear regression model - CORRECT ANSWER can be used to estimate the mean
value of y given 𝑥𝑖 or it can be used to predict the value of y for a given x.
𝐸(𝑦)=𝛽0+𝛽1𝑥
least squares method - CORRECT ANSWER Least squares is a method that minimizes the
sum of squared deviations between the observed values of variable 𝑦𝑖 and the predicted variable
^𝑦𝑖.
The difference between the observed value of the dependent variable and the value predicted
using the estimated regression equation is called a(n) - CORRECT ANSWER residual
hypothesis testing - CORRECT ANSWER can be used to determine whether a statement
about the value of a population parameter should or should not be rejected
A type I error occurs when - CORRECT ANSWER you reject null when it is true
Type II error (beta) - CORRECT ANSWER Accepting the alternative hypothesis when it
is false
