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Exam (elaborations)

QMB 3200 (UCF) – Final Vocabulary Exam Questions and Answers (2025–2026 Updated & Verified Version)

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This document provides the officially verified and updated collection of QMB 3200 Final Vocabulary Exam Questions and Answers for the 2025–2026 academic year at the University of Central Florida (UCF). It includes precise definitions and explanations of all key statistical concepts covered throughout the course—such as sampling distributions, confidence intervals, hypothesis testing, regression analysis, correlation, and time series forecasting. Each term is explained in simple, exam-focused language to help students master the essential terminology needed to succeed in the QMB 3200 final exam.

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Uploaded on
October 9, 2025
Number of pages
9
Written in
2025/2026
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QMB 3200 UCF FINAL VOCAB E XAM
QUESTIONS AND ANSWERS UPDATED
(2025-2026) (VERIFIED ANSWERS)


Pointyestimatory-
y ANSy✓Theysampleystatistic,ysuchyasybar(x),ys,yorybar(p),ythatyprovidesytheypointye
stimateyofytheypopulationyparameter.



Centralylimitytheoremy-
y ANSy✓Aytheoremythatyenablesyoneytoyuseytheynormalyprobabilityydistributionytoy
approximateytheysamplingydistributionyofybar(x)ywheneverytheysampleysizeyisylarg
e.



Pointyestimatey-
y ANSy✓Theyvalueyofyaypointyestimatoryusedyinyayparticularyinstanceyasyanyestimate
y ofyaypopulationyparameter.



Unbiasedy-
y ANSy✓Aypropertyyofyaypointyestimatorythatyisypresentywhenytheyexpectedyvalueyo
fytheypointyestimatoryisyequalytoytheypopulationyparameteryityestimates.



Confidenceyintervaly-yANSy✓Anotherynameyforyanyintervalyestimate.




QMBy3200

, 2
QMB
marginyofyerrory-
y ANSy✓They±yvalueyaddedytoyandysubtractedyfromyaypointyestimateyinyorderytoyde
velopyanyintervalyestimateyofyaypopulationyparameter.



Confidenceycoefficienty-
y ANSy✓Theyconfidenceylevelyexpressedyasyaydecimalyvalue.yForyexample,y.95yisythe
y confidenceycoefficientyforyay95%yconfidenceylevel.



Degreesyofyfreedomy-
y ANSy✓Ayparameteryofytheytydistribution.yWhenytheytydistributionyisyusedyinytheyco
mputationyofyanyintervalyestimateyofyaypopulationymean,ytheyappropriateytydistrib
utionyhasyny−y1ydegreesyofyfreedom,ywhereynyisytheysizeyofytheysample.



Confidenceylevely-
y ANSy✓Theyconfidenceyassociatedywithyanyintervalyestimate.yForyexample,yifyanyin
tervalyestimationyprocedureyprovidesyintervalsysuchythaty95%yofytheyintervalsyfor
medyusingytheyprocedureywillyincludeytheypopulationyparameter,ytheyintervalyesti
mateyisysaidytoybeyconstructedyatythey95%yconfidenceylevel.



Nullyhypothesisy-
y ANSy✓Theyhypothesisytentativelyyassumedytrueyinytheyhypothesisytestingyproced
ure.



Two-tailedytesty-
y ANSy✓Ayhypothesisytestyinywhichyrejectionyofytheynullyhypothesisyoccursyforyvalu
esyofytheytestystatisticyinyeitherytailyofyitsysamplingydistribution.




QMBy3200
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