UCF QMB3200 Midterm Exam
Questions With 100% Verified Answers
Analytics -
correct answer ✅the scientific process of transforming data into
insight for making better decisions
Descriptive Analytics -
correct answer ✅Analytical techniques that describe what has
happened in the past.
Predictive Analytics -
correct 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 -
correct answer ✅Analytical techniques that yield a course of
action.
Big Data -
correct 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.
,UCF QMB3200 Midterm Exam
Questions With 100% Verified Answers
Data Mining -
correct answer ✅The process of using procedures from statistics
and computer science to extract useful information from extremely
large databases.
Frequency Distribution -
correct answer ✅A tabular summary of data showing the number
(frequency) of observations in each of several nonoverlapping
categories or classes.
Relative Frequency Distribution -
correct answer ✅A tabular summary of data showing the fraction
or proportion of observations in each of several nonoverlapping
categories or classes.
Percent Frequency Distribution -
correct answer ✅A tabular summary of data showing the
percentage of observations in each of several nonoverlapping
classes.
Bar Chart -
correct answer ✅A graphical device for depicting categorical data
, UCF QMB3200 Midterm Exam
Questions With 100% Verified Answers
that have been summarized in a frequency, relative frequency, or
percent frequency distribution.
Pie Chart -
correct 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 -
correct answer ✅the value halfway between the lower and upper
class limits
Dot Plot -
correct answer ✅a graphical device that summarizes data by the
number of dots above each data value on the horizontal axis
Histogram -
correct 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.
Questions With 100% Verified Answers
Analytics -
correct answer ✅the scientific process of transforming data into
insight for making better decisions
Descriptive Analytics -
correct answer ✅Analytical techniques that describe what has
happened in the past.
Predictive Analytics -
correct 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 -
correct answer ✅Analytical techniques that yield a course of
action.
Big Data -
correct 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.
,UCF QMB3200 Midterm Exam
Questions With 100% Verified Answers
Data Mining -
correct answer ✅The process of using procedures from statistics
and computer science to extract useful information from extremely
large databases.
Frequency Distribution -
correct answer ✅A tabular summary of data showing the number
(frequency) of observations in each of several nonoverlapping
categories or classes.
Relative Frequency Distribution -
correct answer ✅A tabular summary of data showing the fraction
or proportion of observations in each of several nonoverlapping
categories or classes.
Percent Frequency Distribution -
correct answer ✅A tabular summary of data showing the
percentage of observations in each of several nonoverlapping
classes.
Bar Chart -
correct answer ✅A graphical device for depicting categorical data
, UCF QMB3200 Midterm Exam
Questions With 100% Verified Answers
that have been summarized in a frequency, relative frequency, or
percent frequency distribution.
Pie Chart -
correct 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 -
correct answer ✅the value halfway between the lower and upper
class limits
Dot Plot -
correct answer ✅a graphical device that summarizes data by the
number of dots above each data value on the horizontal axis
Histogram -
correct 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.
