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UCF QMB3200 Midterm Study Guide.
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
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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()
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UCF QMB3200 Midterm Study Guide.
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
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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()
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