QMB 3200 MIDTERM EXAM ACTUAL EXAM 2 VERSIONS (VERSION A AND B) COMPLETE ACTUAL EXAM QUESTIONS WITH DETAILED VERIFIED ANSWERS

Name: Score:


36 Multiple choice questions

Definition 1 of 36
the reliability of the data generated.

Velocity

Weighted Mean

Variance

Veracity

Definition 2 of 36
=mode.sngl(B2:B13)

Variance

Interquartile Range

Standard Deviation

Mode

Term 3 of 36
Standard Deviation

=st.s(b2:b13)


subset of the population.

=stdev.s(B2:B13)


uses models seeking to find a best optimal solution. often these are some type of
optimization model.

, Definition 4 of 36
a measure of how large the standard deviation is relative to the mean.

Coefficient of Variation

Standard Deviation


Interquartile Range


Variance

Definition 5 of 36
a characteristic of interest of an element.

Population


Variance

Sample

Variable

Term 6 of 36
Prescriptive Analytics

z-score greater than 3

lower limit: 𝑄𝑄1−1.5(𝐼𝐼𝑄𝑄𝐼𝐼)
upper limit: 𝑄𝑄3 + 1.5(𝐼𝐼𝑄𝑄𝐼𝐼)


=mode.sngl(b2:b13)

uses models seeking to find a best optimal solution. Often these are some type of
optimization model.

uses statistical models from past data to predict the future forecasting or access the impact
of one variable on another inference.