MAT 240 APPLIED STATS TERMS WITH 100%
ACCURATE SOLUTIONS
Data
Information, especially facts or numbers, usually collected or computed for purposes of
analysis.
Data Analytics
The field of analyzing data to gain insight, draw conclusions, or make decisions.
Big Data
Refers to very large data sets that cannot be processed by traditional methods, and is
characterized by high volume, rapid velocity of collection, and variety in type and quality.
Descriptive Data Analytics
Seeks to describe data, providing insight and knowledge.
Predictive Data Analytics
Seeks to make predictions from data.
Prescriptive Data Analytics
Seeks to make decisions (prescriptions) based on data.
Variable
An item that can have different ("varying") values.
Quantitative Variable
Can take on a numeric value (quantitative data) that can be measured and ordered.
Categorial Variable
, Can take on the value (usually a label) of one of several categories; often called a qualitative
variable.
Nominal Variable
A variable containing categories that have no ordering, existing in name only.
Ordinal Variable
A variable containing categories that have an ordering.
Continuous Variable
A variable containing values that are infinite along a continuum of values within a range,
typically real numbers.
Discrete Variable
A variable containing values within a finite range, typically integers.
Data Visualization
Display of data in a format, such as a table or chart that seeks to achieve a goal of conveying
particular information to a viewer.
Table
Displays data using rows and columns.
Cardinality
The number of unique elements in a dataset.
Spreadsheet Application
Common computer application for organizing data like text or numbers, for using formulas to
calculate a mathematical quantity using existing data as inputs, and for creating charts to
visualize data.
ABS Function
ACCURATE SOLUTIONS
Data
Information, especially facts or numbers, usually collected or computed for purposes of
analysis.
Data Analytics
The field of analyzing data to gain insight, draw conclusions, or make decisions.
Big Data
Refers to very large data sets that cannot be processed by traditional methods, and is
characterized by high volume, rapid velocity of collection, and variety in type and quality.
Descriptive Data Analytics
Seeks to describe data, providing insight and knowledge.
Predictive Data Analytics
Seeks to make predictions from data.
Prescriptive Data Analytics
Seeks to make decisions (prescriptions) based on data.
Variable
An item that can have different ("varying") values.
Quantitative Variable
Can take on a numeric value (quantitative data) that can be measured and ordered.
Categorial Variable
, Can take on the value (usually a label) of one of several categories; often called a qualitative
variable.
Nominal Variable
A variable containing categories that have no ordering, existing in name only.
Ordinal Variable
A variable containing categories that have an ordering.
Continuous Variable
A variable containing values that are infinite along a continuum of values within a range,
typically real numbers.
Discrete Variable
A variable containing values within a finite range, typically integers.
Data Visualization
Display of data in a format, such as a table or chart that seeks to achieve a goal of conveying
particular information to a viewer.
Table
Displays data using rows and columns.
Cardinality
The number of unique elements in a dataset.
Spreadsheet Application
Common computer application for organizing data like text or numbers, for using formulas to
calculate a mathematical quantity using existing data as inputs, and for creating charts to
visualize data.
ABS Function
