QMB 3200 Exam with correct answers
Data - ** VERIFIED ANSWERS **✔✔facts and figures collected, analyzed, or summarized
Dataset - ** VERIFIED ANSWERS **✔✔all the data collected in an analysis
Element - ** VERIFIED ANSWERS **✔✔the entity on which data is collected
Variable - ** VERIFIED ANSWERS **✔✔characteristic of interest of an element
Observation - ** VERIFIED ANSWERS **✔✔all variables associated
Categorical - ** VERIFIED ANSWERS **✔✔numeric or ordinal values of measurement
Quantitative - ** VERIFIED ANSWERS **✔✔uses numeric measures
Cross Sectional - ** VERIFIED ANSWERS **✔✔data collected at a similar point in time
Time Series - ** VERIFIED ANSWERS **✔✔data collected over a series of time periods
Panel - ** VERIFIED ANSWERS **✔✔combination of cross sectional and time series data
Descriptive Staistics - ** VERIFIED ANSWERS **✔✔describes the data or variables
Population - ** VERIFIED ANSWERS **✔✔set of all data/variables n statistical analysis
Sample - ** VERIFIED ANSWERS **✔✔subset of the population
, Statistical inference - ** VERIFIED ANSWERS **✔✔uses data from a sample to make estimates and
test hypothesis about the characteristics of a population
Descriptive Analytics - ** VERIFIED ANSWERS **✔✔describes what has happened in the past
Predictive Analytics - ** VERIFIED ANSWERS **✔✔statistical models from he pas to predict the
future or access the impact of one variable on another
Prescriptive Analytics - ** VERIFIED ANSWERS **✔✔uses models seeking to find an optimal
solution (type of optimization model)
Volume - ** VERIFIED ANSWERS **✔✔number of observations
Velocity - ** VERIFIED ANSWERS **✔✔speed data is collected
Variety - ** VERIFIED ANSWERS **✔✔forms of data are of different types
Veracity - ** VERIFIED ANSWERS **✔✔reliability of the data generated
Data Mining - ** VERIFIED ANSWERS **✔✔focuses on extracting predictive information from Big
Data
Frequency Distribution - ** VERIFIED ANSWERS **✔✔tabular summary of data showing the
number of observations in each of several non overlapping categories
Percent Frequency - ** VERIFIED ANSWERS **✔✔relative frequency * 100
Relative Frequency - ** VERIFIED ANSWERS **✔✔(frequency of class)/(n)
Data - ** VERIFIED ANSWERS **✔✔facts and figures collected, analyzed, or summarized
Dataset - ** VERIFIED ANSWERS **✔✔all the data collected in an analysis
Element - ** VERIFIED ANSWERS **✔✔the entity on which data is collected
Variable - ** VERIFIED ANSWERS **✔✔characteristic of interest of an element
Observation - ** VERIFIED ANSWERS **✔✔all variables associated
Categorical - ** VERIFIED ANSWERS **✔✔numeric or ordinal values of measurement
Quantitative - ** VERIFIED ANSWERS **✔✔uses numeric measures
Cross Sectional - ** VERIFIED ANSWERS **✔✔data collected at a similar point in time
Time Series - ** VERIFIED ANSWERS **✔✔data collected over a series of time periods
Panel - ** VERIFIED ANSWERS **✔✔combination of cross sectional and time series data
Descriptive Staistics - ** VERIFIED ANSWERS **✔✔describes the data or variables
Population - ** VERIFIED ANSWERS **✔✔set of all data/variables n statistical analysis
Sample - ** VERIFIED ANSWERS **✔✔subset of the population
, Statistical inference - ** VERIFIED ANSWERS **✔✔uses data from a sample to make estimates and
test hypothesis about the characteristics of a population
Descriptive Analytics - ** VERIFIED ANSWERS **✔✔describes what has happened in the past
Predictive Analytics - ** VERIFIED ANSWERS **✔✔statistical models from he pas to predict the
future or access the impact of one variable on another
Prescriptive Analytics - ** VERIFIED ANSWERS **✔✔uses models seeking to find an optimal
solution (type of optimization model)
Volume - ** VERIFIED ANSWERS **✔✔number of observations
Velocity - ** VERIFIED ANSWERS **✔✔speed data is collected
Variety - ** VERIFIED ANSWERS **✔✔forms of data are of different types
Veracity - ** VERIFIED ANSWERS **✔✔reliability of the data generated
Data Mining - ** VERIFIED ANSWERS **✔✔focuses on extracting predictive information from Big
Data
Frequency Distribution - ** VERIFIED ANSWERS **✔✔tabular summary of data showing the
number of observations in each of several non overlapping categories
Percent Frequency - ** VERIFIED ANSWERS **✔✔relative frequency * 100
Relative Frequency - ** VERIFIED ANSWERS **✔✔(frequency of class)/(n)
