QMB3200 Exam Rated A+ (Verified) 2025 New Update

QMB3200 Exam Rated A+ (Verified) 2025 New Update Descriptive Statistics - Answer- Refers to the summary of important information aspects of a data set. Nominal Scale - Answer- Represents the least sophisticated level of measurement. If we are presented with nominal observations, all we can do is categorize or group them. The observation differes merely by name or label. The observations for any variable can be classified into one of four major measurement scales: nominal, ordinal, interval, or ratio. - Answer- True From the scenarios below, indicate the one that BEST reflects the nominal scale. - Answer- Designate males as 0 and females as 1 to compare gender performance on an aptitude test. Cross-sectional Data - Answer- refers to data collected by recording a characteristic of many subjects at the same point in time, or without regard to differences in time Which of the following is an example of a variable? - Answer- The number of pizzas ordered from Pizza Hut per day Continuous Variable - Answer- Characterized by uncountable values within an interval. Weight, height, time, and investment return are all examples of continuous variables. In order to inspect and explore data, we must first "____" and "____" the observations - Answer- Count; sort Ordinal Scale - Answer- Reflects a stronger level of measurement. We are able to both categorize and rank them with respect to some characteristic or trait. A significant weakness of the ordinal scale is - Answer- an inability to measure differences between the ranked values. Sorting allows us to verify that a data set is complete, and also allows us to review the "_____" of values for each variable. - Answer- range All of the following are examples of continuous variables EXCEPT: - Answer- The number of children in a family Big Data - Answer- Used to describe both structured and unstructured data. Doesn't necessarily imply complete (population) data. Volume - Answer- Big data imply an immense amount of data. Velocity - Answer- Big data are generated at a rapid speed. Variety - Answer- Big data come in all forms. Veracity - Answer- Businesses must verify the reliability and veracity of the big data before making decisions. Value - Answer- Businesses must develop a methodical plan for formulating questions in order to unlock the hidden potential in big data. The ratio scale is - Answer- more sophisticated than the nominal scale. We want to select only pur college-educated millenial customers. The data is collected and column D contains birth date, while column E contains whether students attended college. Arrange the following prompts in order in which they would be completed. - Answer- 1- Open the customer's file. 2- Filter the data set. 3- Click on the drop-down box in E1 4- Click on the drop-down box in D1 With nominal data, you can - Answer- .categorize the data Which of the following is an example of cross-sectional data? - Answer- The number of students in each business major at the start of this semester. A variable that assumes meaningful numerical values is called a ____________ variable. - Answer- quantitative Businesses must verify the reliability and "_____" of the big data before making decisions. - Answer- veracity To filter the data based on the birthdate range, use the Custom Autofilter dialog box and select the _______ option. - Answer- between Inferential Statistics - Answer- Refers to drawing conclusions about a large set of data- called a population- based on a smaller set of sample data. Which of the folloeing is an example of inferential statistics? - Answer- Find the average height of 50 female students at State University. All of the following are examples of cross-sectional data EXCEPT: - Answer- Quarterly sales for a computer company for the last five years.