K
C
LO
YC
UCF QMB3200 MIDTERM
D
STUDY EXAM QUESTIONS
U
WITH CORRECT ANSWERS
ST
ALL VERIFIED BY AN EXPERT
A+ GRADED (LATEST UPDATE)
, Analytics - ANS the scientific process of transforming data into insight for making better
decisions
Descriptive Analytics - ANS Analytical techniques that describe what has happened in the
past.
Predictive Analytics - ANS Analytical techniques that use models constructed from past data
to predict the future or assess the impact of one variable on another.
K
Prescriptive Analytics - ANS Analytical techniques that yield a course of action.
C
Big Data - ANS 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.
LO
Data Mining - ANS The process of using procedures from statistics and computer science to
extract useful information from extremely large databases.
Frequency Distribution - ANS A tabular summary of data showing the number (frequency) of
YC
observations in each of several nonoverlapping categories or classes.
Relative Frequency Distribution - ANS A tabular summary of data showing the fraction or
proportion of observations in each of several nonoverlapping categories or classes.
Percent Frequency Distribution - ANS A tabular summary of data showing the percentage of
D
observations in each of several nonoverlapping classes.
Bar Chart - ANS A graphical device for depicting categorical data that have been summarized
U
in a frequency, relative frequency, or percent frequency distribution.
Pie Chart - ANS A graphical device for presenting data summaries based on subdivision of a
ST
circle into sectors that correspond to the relative frequency for each class.
Class Midpoint - ANS the value halfway between the lower and upper class limits
Dot Plot - ANS a graphical device that summarizes data by the number of dots above each
data value on the horizontal axis
Histogram - ANS 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.
C
LO
YC
UCF QMB3200 MIDTERM
D
STUDY EXAM QUESTIONS
U
WITH CORRECT ANSWERS
ST
ALL VERIFIED BY AN EXPERT
A+ GRADED (LATEST UPDATE)
, Analytics - ANS the scientific process of transforming data into insight for making better
decisions
Descriptive Analytics - ANS Analytical techniques that describe what has happened in the
past.
Predictive Analytics - ANS Analytical techniques that use models constructed from past data
to predict the future or assess the impact of one variable on another.
K
Prescriptive Analytics - ANS Analytical techniques that yield a course of action.
C
Big Data - ANS 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.
LO
Data Mining - ANS The process of using procedures from statistics and computer science to
extract useful information from extremely large databases.
Frequency Distribution - ANS A tabular summary of data showing the number (frequency) of
YC
observations in each of several nonoverlapping categories or classes.
Relative Frequency Distribution - ANS A tabular summary of data showing the fraction or
proportion of observations in each of several nonoverlapping categories or classes.
Percent Frequency Distribution - ANS A tabular summary of data showing the percentage of
D
observations in each of several nonoverlapping classes.
Bar Chart - ANS A graphical device for depicting categorical data that have been summarized
U
in a frequency, relative frequency, or percent frequency distribution.
Pie Chart - ANS A graphical device for presenting data summaries based on subdivision of a
ST
circle into sectors that correspond to the relative frequency for each class.
Class Midpoint - ANS the value halfway between the lower and upper class limits
Dot Plot - ANS a graphical device that summarizes data by the number of dots above each
data value on the horizontal axis
Histogram - ANS 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.
