QMB 3200 MIDTERM UCF QUESTIONS AND ANSWERS 2024
1.Analytics:
Ans>> the scientific process of transforming data into insight for making
better decisions
2.Descriptive Analytics:
Ans>> Analytical techniques that describe what has happened in the
past.
3.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.
4.Prescriptive Analytics:
Ans>> Analytical techniques that yield a course of action.
5.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 charac- terized by 4 v's: volume, velocity, variety, and
veracity.
6.Data Mining:
Ans>> The process of using procedures from statistics and
computer science to extract useful information from extremely large
databases.
7.Frequency Distribution:
Ans>> A tabular summary of data showing the number (fre- quency)
of observations in each of several nonoverlapping categories or
classes.
8.Relative Frequency Distribution:
Ans>> A tabular summary of data showing the frac- tion or proportion of
observations in each of several nonoverlapping categories or classes.
9.Percent Frequency Distribution:
Ans>> A tabular summary of data showing the per- centage of
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,QMB 3200 MIDTERM UCF QUESTIONS AND ANSWERS 2024
observations in each of several nonoverlapping classes.
10.Bar Chart:
Ans>> A graphical device for depicting categorical data that have
been summarized in a frequency, relative frequency, or percent
frequency distribution.
11.Pie Chart:
Ans>> A graphical device for presenting data summaries based on
subdivi- sion of a circle into sectors that correspond to the relative
frequency for each class.
12.Class Midpoint:
Ans>> the value halfway between the lower and upper class limits
13.Dot Plot:
Ans>> a graphical device that summarizes data by the number of dots
above each data value on the horizontal axis
14.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.
15.Cumulative Frequency Distribution:
Ans>> A tabular summary of quantitative data showing the number of
data values that are less than or equal to the upper class limit of each
class.
16.Cumulative Relative Frequency Distribution:
Ans>> A tabular summary of quantita- tive data showing the fraction or
proportion of data values that are less than or equal to the upper class
limit of each class.
17.Cumulative Percent Frequency Distribution:
Ans>> A tabular summary of quantita- tive data showing the
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1.Analytics:
Ans>> the scientific process of transforming data into insight for making
better decisions
2.Descriptive Analytics:
Ans>> Analytical techniques that describe what has happened in the
past.
3.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.
4.Prescriptive Analytics:
Ans>> Analytical techniques that yield a course of action.
5.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 charac- terized by 4 v's: volume, velocity, variety, and
veracity.
6.Data Mining:
Ans>> The process of using procedures from statistics and
computer science to extract useful information from extremely large
databases.
7.Frequency Distribution:
Ans>> A tabular summary of data showing the number (fre- quency)
of observations in each of several nonoverlapping categories or
classes.
8.Relative Frequency Distribution:
Ans>> A tabular summary of data showing the frac- tion or proportion of
observations in each of several nonoverlapping categories or classes.
9.Percent Frequency Distribution:
Ans>> A tabular summary of data showing the per- centage of
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,QMB 3200 MIDTERM UCF QUESTIONS AND ANSWERS 2024
observations in each of several nonoverlapping classes.
10.Bar Chart:
Ans>> A graphical device for depicting categorical data that have
been summarized in a frequency, relative frequency, or percent
frequency distribution.
11.Pie Chart:
Ans>> A graphical device for presenting data summaries based on
subdivi- sion of a circle into sectors that correspond to the relative
frequency for each class.
12.Class Midpoint:
Ans>> the value halfway between the lower and upper class limits
13.Dot Plot:
Ans>> a graphical device that summarizes data by the number of dots
above each data value on the horizontal axis
14.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.
15.Cumulative Frequency Distribution:
Ans>> A tabular summary of quantitative data showing the number of
data values that are less than or equal to the upper class limit of each
class.
16.Cumulative Relative Frequency Distribution:
Ans>> A tabular summary of quantita- tive data showing the fraction or
proportion of data values that are less than or equal to the upper class
limit of each class.
17.Cumulative Percent Frequency Distribution:
Ans>> A tabular summary of quantita- tive data showing the
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