UCF QMB3200 Midterm Study
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.
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.
