QMB 3200 MIDTERM UCF (2025/2026
)Latest Questions with Verified and
Correct Answers.
Data - Answer--the facts and figures collected, analyzed, and summarized for
presentation and interpretation
Dataset - Answer--all the data collected for a particular analysis
Element - Answer--The entity on which data is collected
Variable - Answer--A characteristic of interest of an element
Observation - Answer--the variables associated with an individual element
Categorical - Answer--The numeric or ordinal values of measurments of categories
Quantitative - Answer--Use numeric (quantitative) values
Scatter Diagram & Trendline - Answer--a scatter diagram is a graphical display of the
relationship between two quantitative variables and a trendline provides an
approximation (i.e. an estimate) of the relationship; which can be positive, negative or
none
Side by Side & Stacked Bar Charts - Answer--These are extensions of a basic bar chart
as they are used to display and compare two variables.
, Side by Side Chart - Answer--A side by side by chart depicts multiple bar charts on the
same display.
Stacked Bar Chart - Answer--A stacked bar chart has one bar broken into
segments of a different color showing the relative
frequency of each class.
Mean - Answer--is the average value of a variable and the sample mean is denoted as (
x with a line over it) and the population mean is denoted as a weird looking u.
Median - Answer--is the value in the middel, when the data are arranged in ascending
order. When the number of observations are off the median is the middle value; when
the number of observations are even the median is the average of the two middle
values. The median avoid porblems where ther extreme high or low values for x.
Cross-Sectional - Answer--Data collected at a similar point in time
Time Series - Answer--Data collected over several time periods
Panel - Answer--Combination of cross-sectional and time series data
Descriptive Statistics - Answer--Describes the data or variables
Population - Answer--is the set of all data/variables of a statistical analysis
Sample - Answer--is a subset of the population
Statistical Inference - Answer--Uses data from a sample to make estimates and test
hypothesis about the characteristics of a population
4 General Options for Excel - Answer--1. Enter of Access Data
2. Enter Functions and Formulas
3. Apply Tools
4. Editing Options
Descriptive Analytics - Answer--Which described what has happened in the past
Predictive Analytics - Answer--uses statistical models from
past data to predict the future [forecasting] or access
the impact of one variable on another [inference].
)Latest Questions with Verified and
Correct Answers.
Data - Answer--the facts and figures collected, analyzed, and summarized for
presentation and interpretation
Dataset - Answer--all the data collected for a particular analysis
Element - Answer--The entity on which data is collected
Variable - Answer--A characteristic of interest of an element
Observation - Answer--the variables associated with an individual element
Categorical - Answer--The numeric or ordinal values of measurments of categories
Quantitative - Answer--Use numeric (quantitative) values
Scatter Diagram & Trendline - Answer--a scatter diagram is a graphical display of the
relationship between two quantitative variables and a trendline provides an
approximation (i.e. an estimate) of the relationship; which can be positive, negative or
none
Side by Side & Stacked Bar Charts - Answer--These are extensions of a basic bar chart
as they are used to display and compare two variables.
, Side by Side Chart - Answer--A side by side by chart depicts multiple bar charts on the
same display.
Stacked Bar Chart - Answer--A stacked bar chart has one bar broken into
segments of a different color showing the relative
frequency of each class.
Mean - Answer--is the average value of a variable and the sample mean is denoted as (
x with a line over it) and the population mean is denoted as a weird looking u.
Median - Answer--is the value in the middel, when the data are arranged in ascending
order. When the number of observations are off the median is the middle value; when
the number of observations are even the median is the average of the two middle
values. The median avoid porblems where ther extreme high or low values for x.
Cross-Sectional - Answer--Data collected at a similar point in time
Time Series - Answer--Data collected over several time periods
Panel - Answer--Combination of cross-sectional and time series data
Descriptive Statistics - Answer--Describes the data or variables
Population - Answer--is the set of all data/variables of a statistical analysis
Sample - Answer--is a subset of the population
Statistical Inference - Answer--Uses data from a sample to make estimates and test
hypothesis about the characteristics of a population
4 General Options for Excel - Answer--1. Enter of Access Data
2. Enter Functions and Formulas
3. Apply Tools
4. Editing Options
Descriptive Analytics - Answer--Which described what has happened in the past
Predictive Analytics - Answer--uses statistical models from
past data to predict the future [forecasting] or access
the impact of one variable on another [inference].
