QMB 3200 Midterm UCF Questions and Answers

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QMB 3200 Midterm UCF Questions and
Answers

Data
Ans: the facts and figures collected, analyzed, and summarized for
presentation and interpretation

Dataset
Ans: all the data collected for a particular analysis

Element
Ans: The entity on which data is collected

Variable
Ans: A characteristic of interest of an element

Observation
Ans: the variables associated with an individual element

Categorical
Ans: The numeric or ordinal values of measurments of categories

Quantitative
Ans: Use numeric (quantitative) values

Cross-Sectional
Ans: Data collected at a similar point in time

Time Series


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Ans: Data collected over several time periods

Panel
Ans: Combination of cross-sectional and time series data

Descriptive Statistics
Ans: Describes the data or variables

Population
Ans: is the set of all data/variables of a statistical analysis

Sample
Ans: is a subset of the population

Statistical Inference
Ans: Uses data from a sample to make estimates and test hypothesis
about the characteristics of a population

4 General Options for Excel
Ans: 1. Enter of Access Data
2. Enter Functions and Formulas
3. Apply Tools
4. Editing Options

Descriptive Analytics
Ans: Which described what has happened in the past

Predictive Analytics
Ans: uses statistical models from
past data to predict the future [forecasting] or access
the impact of one variable on another [inference].


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