QMB3200 Midterm Exam Questions and
Answers 100% Solved | Graded A+
Dataset - ✔✔all the data collected for a particular analysis.
Element - ✔✔the entity on which data is collected.
Observation - ✔✔the variables associated with an individual element.
Variable - ✔✔a characteristic of interest of an element.
Categorical Data - ✔✔use numeric or ordinal values of measurement of
categories.
Cross-Sectional Data - ✔✔data collected at a similar point in time.
Time Series - ✔✔data collected over several time periods.
Panel - ✔✔combination of cross-sectional and time series data.
Population - ✔✔is the set of all data/variables of a statistical analysis.
Sample - ✔✔subset of the population.
Frequency Formula - ✔✔=countif(highlight column, select cell)
Percent Frequency - ✔✔=cell/sum(cell range)
Descriptive Analytics - ✔✔which describe what has happened in the past.
1
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.
, Predictive Analytics - ✔✔uses statistical models from past data to predict
the future forecasting or access the impact of one variable on another
inference.
Prescriptive Analytics - ✔✔uses models seeking to find a best optimal
solution. Often these are some type of optimization model.
Veracity - ✔✔the reliability of the data generated.
Data Mining - ✔✔Focuses on extracting predictive information from big
data.
Big Data - ✔✔Volume
Velocity
Variety
Veracity
Frequency Distribution - ✔✔a tabular summary of data showing the number
(i.e. frequency) of observations in each of several non over-lapping
categories.
Relative Frequency - ✔✔frequency of a class/ n of a class.
Cumulative Distribution - ✔✔shows the proportion of data items with values
less than or equal to the upper limit of each class.
2
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.
Answers 100% Solved | Graded A+
Dataset - ✔✔all the data collected for a particular analysis.
Element - ✔✔the entity on which data is collected.
Observation - ✔✔the variables associated with an individual element.
Variable - ✔✔a characteristic of interest of an element.
Categorical Data - ✔✔use numeric or ordinal values of measurement of
categories.
Cross-Sectional Data - ✔✔data collected at a similar point in time.
Time Series - ✔✔data collected over several time periods.
Panel - ✔✔combination of cross-sectional and time series data.
Population - ✔✔is the set of all data/variables of a statistical analysis.
Sample - ✔✔subset of the population.
Frequency Formula - ✔✔=countif(highlight column, select cell)
Percent Frequency - ✔✔=cell/sum(cell range)
Descriptive Analytics - ✔✔which describe what has happened in the past.
1
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.
, Predictive Analytics - ✔✔uses statistical models from past data to predict
the future forecasting or access the impact of one variable on another
inference.
Prescriptive Analytics - ✔✔uses models seeking to find a best optimal
solution. Often these are some type of optimization model.
Veracity - ✔✔the reliability of the data generated.
Data Mining - ✔✔Focuses on extracting predictive information from big
data.
Big Data - ✔✔Volume
Velocity
Variety
Veracity
Frequency Distribution - ✔✔a tabular summary of data showing the number
(i.e. frequency) of observations in each of several non over-lapping
categories.
Relative Frequency - ✔✔frequency of a class/ n of a class.
Cumulative Distribution - ✔✔shows the proportion of data items with values
less than or equal to the upper limit of each class.
2
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.
