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UCF FINAL QMB 3200 Exam Study Guide.
IMPORTANT PRACTICE TEST INFORMATION!!!!
This may be even more helpful than this quizlet!!!!
In mindtap go to the left-hand toolbar, select courses, and select this course.
You should see a dashboard with the chapters on the left and your recent homework scores on
the right.
Then on chapter 1 click the down arrow to display all of the sub categories.
You should see the last sub category it is chapter 1 review and assignments- click on this then
click chapter 1 test prep.
This will take you to a page where you can create your own test!
What you should do is go to the modules- he lists the textbook sections to read- select these
sections on the practice test- only practice conceptual questions.
These questions are confusing and difficult so far- so it seems like the perfect way to practice!!!
Manifesting amazing grades for you all and good luck! - Answer✔✔
Dataset - Answer✔✔all the data collected for a particular analysis
Data - Answer✔✔The facts & figures collected, analyzed, and summarized for presentation and
interpretation.
Element - Answer✔✔The entity on which data is collected.
Variable - Answer✔✔a characteristic of interest of an element.
Observation - Answer✔✔The variables associated with an individual element.
Categorical Data - Answer✔✔Use numeric or ordinal values of measurement of categories.
Quantitative Data - Answer✔✔use numeric (quantitative) measures
Cross-sectional Data - Answer✔✔data collected at a similar point in
1
, ©FYNDLAY.
time.
Time Series - Answer✔✔data collected over several time periods.
Panel Data - Answer✔✔combination of cross-sectional and time series data.
Descriptive Statistics - Answer✔✔Describes data or variables
Population - Answer✔✔Is the set of all data/variables of a statistical analysis.
Sample - Answer✔✔is a subset of the population
Statistical Inference: - Answer✔✔Uses data from a sample to make estimates and test hypothesis
about the characteristics of a population.
What does row 1 usually contain in Excel? - Answer✔✔Typically contains the variable's names.
What does Column A usually contain in Excel? - Answer✔✔contains the elements; and the rest
of the
worksheet contains the data in the dataset.
How do you calculate the mean in excel? - Answer✔✔=Average
How do you calculate the median in excel? - Answer✔✔=median
What is data analytics? - Answer✔✔the scientific process of transforming data
for decision making. There are three broad areas of
data analytics.
Descriptive Analytics - Answer✔✔describe what has happened in the past.
Predictive Analytics - Answer✔✔uses statistical models from
past data to predict the future [forecasting] or access
the impact of one variable on another [inference].
Prescriptive Analytics - Answer✔✔uses models seeking to find a best (optimal) solution. Often
these are sometype of optimization model.
The difference between data and big data are - Answer✔✔We will use data (not big data)
1. Volume - the number of observations.
2. Velocity - the speed at which data is collected.
3. Variety - the forms of data are of different types.
4. Veracity - the reliability of the data generated.
2
, ©FYNDLAY.
Data Mining - Answer✔✔Focuses on extracting predictive information from big
data.
Frequency Distribution - Answer✔✔a tabular summary of datashowing the number (i.e.
frequency) of observationsin each of several non over-lapping categories.
Relative Frequency - Answer✔✔frequency of a class/ n of a class
Percent Frequency - Answer✔✔relative frequency x 100
Bar Chart: - Answer✔✔a visual display of frequency; relative
frequency & percent frequency distributions.
How would you make a frequency table in excel? - Answer✔✔a. Select any cell in Column A
b. Click Insert on the Ribbon Tab
c. In Tables, click Recommend Pivot Tables
d. Click OK.
pie chart - Answer✔✔a visual display of frequency; relative frequency & percent frequency
distributions.
How would you create a bar chart in excel? - Answer✔✔a. Select any cell from A1 to A51.
b. Click the Insert tab from the Ribbon.
c. In Charts, click Recommended Charts
d. Click OK. [bar chart appears in a new worksheet]
What are the basic steps to using excel? - Answer✔✔Access the data, Functions & formulas,
Apply tools, Editing options
A frequency distribution with quantitative data mustdefine the classes for a frequency
distribution by: - Answer✔✔a. determine the number of non over-lapping
classes;
b. determine the width of each class;
c. determine the class limits.
Number of Classes - Answer✔✔Typically, between 5 and 20. Small datasets have less; larger
datasets have more.
Width of the Class - Answer✔✔Generally, it should be the same for each class. Approximate
class width = (largest data value - smallest data value)/number of classes.
3
, ©FYNDLAY.
Class Limits - Answer✔✔Each data observation must only belong to one class.
Relative Frequency Distributions - Answer✔✔frequency of theclass/n
To construct a frequency distribution in excel - Answer✔✔we must group the rows.
What if a class has no data? - Answer✔✔[Excel automaticallyremoves these classes]
To change this:Click the Layout and Print tab
Choose show items with no data; click OK
Histogram - Answer✔✔A visual display of a frequency, relative frequency, or percent frequency
distribution, where the variable of interest is on the horizontal axis and the frequency, relative
frequency, or percent frequency is on the vertical axis.
A histogram shows - Answer✔✔shows the shape of the distribution of
the variable of interest.
A distribution is skewed if more of the data is either
to the left or right of the distribution.
How would we construct a histogram in excel? - Answer✔✔a. Select any cell in the pivot table
report (A3:B9)
b. Click Insert on the Ribbon.
c. In the Charts group, click Recommended
Charts
d. Click OK.
set the gap width to 0
Cumulative Distributions - Answer✔✔Presents the number of data items with values less than or
equal to the upper-class limit for each class
cumulative relative frequency distribution - Answer✔✔A cumulative relative frequency
distribution shows the proportion of data items with values less than or equal to the upper limit
of each class.
cumulative percent frequency distribution - Answer✔✔A cumulative percent frequency
distribution shows the percentage of data items with values less than or equal to the upper limit
of each class.
Crosstabulation: - Answer✔✔a tabular summary of data for twovariables (either categorical or
quantitative)
4
UCF FINAL QMB 3200 Exam Study Guide.
IMPORTANT PRACTICE TEST INFORMATION!!!!
This may be even more helpful than this quizlet!!!!
In mindtap go to the left-hand toolbar, select courses, and select this course.
You should see a dashboard with the chapters on the left and your recent homework scores on
the right.
Then on chapter 1 click the down arrow to display all of the sub categories.
You should see the last sub category it is chapter 1 review and assignments- click on this then
click chapter 1 test prep.
This will take you to a page where you can create your own test!
What you should do is go to the modules- he lists the textbook sections to read- select these
sections on the practice test- only practice conceptual questions.
These questions are confusing and difficult so far- so it seems like the perfect way to practice!!!
Manifesting amazing grades for you all and good luck! - Answer✔✔
Dataset - Answer✔✔all the data collected for a particular analysis
Data - Answer✔✔The facts & figures collected, analyzed, and summarized for presentation and
interpretation.
Element - Answer✔✔The entity on which data is collected.
Variable - Answer✔✔a characteristic of interest of an element.
Observation - Answer✔✔The variables associated with an individual element.
Categorical Data - Answer✔✔Use numeric or ordinal values of measurement of categories.
Quantitative Data - Answer✔✔use numeric (quantitative) measures
Cross-sectional Data - Answer✔✔data collected at a similar point in
1
, ©FYNDLAY.
time.
Time Series - Answer✔✔data collected over several time periods.
Panel Data - Answer✔✔combination of cross-sectional and time series data.
Descriptive Statistics - Answer✔✔Describes data or variables
Population - Answer✔✔Is the set of all data/variables of a statistical analysis.
Sample - Answer✔✔is a subset of the population
Statistical Inference: - Answer✔✔Uses data from a sample to make estimates and test hypothesis
about the characteristics of a population.
What does row 1 usually contain in Excel? - Answer✔✔Typically contains the variable's names.
What does Column A usually contain in Excel? - Answer✔✔contains the elements; and the rest
of the
worksheet contains the data in the dataset.
How do you calculate the mean in excel? - Answer✔✔=Average
How do you calculate the median in excel? - Answer✔✔=median
What is data analytics? - Answer✔✔the scientific process of transforming data
for decision making. There are three broad areas of
data analytics.
Descriptive Analytics - Answer✔✔describe what has happened in the past.
Predictive Analytics - Answer✔✔uses statistical models from
past data to predict the future [forecasting] or access
the impact of one variable on another [inference].
Prescriptive Analytics - Answer✔✔uses models seeking to find a best (optimal) solution. Often
these are sometype of optimization model.
The difference between data and big data are - Answer✔✔We will use data (not big data)
1. Volume - the number of observations.
2. Velocity - the speed at which data is collected.
3. Variety - the forms of data are of different types.
4. Veracity - the reliability of the data generated.
2
, ©FYNDLAY.
Data Mining - Answer✔✔Focuses on extracting predictive information from big
data.
Frequency Distribution - Answer✔✔a tabular summary of datashowing the number (i.e.
frequency) of observationsin each of several non over-lapping categories.
Relative Frequency - Answer✔✔frequency of a class/ n of a class
Percent Frequency - Answer✔✔relative frequency x 100
Bar Chart: - Answer✔✔a visual display of frequency; relative
frequency & percent frequency distributions.
How would you make a frequency table in excel? - Answer✔✔a. Select any cell in Column A
b. Click Insert on the Ribbon Tab
c. In Tables, click Recommend Pivot Tables
d. Click OK.
pie chart - Answer✔✔a visual display of frequency; relative frequency & percent frequency
distributions.
How would you create a bar chart in excel? - Answer✔✔a. Select any cell from A1 to A51.
b. Click the Insert tab from the Ribbon.
c. In Charts, click Recommended Charts
d. Click OK. [bar chart appears in a new worksheet]
What are the basic steps to using excel? - Answer✔✔Access the data, Functions & formulas,
Apply tools, Editing options
A frequency distribution with quantitative data mustdefine the classes for a frequency
distribution by: - Answer✔✔a. determine the number of non over-lapping
classes;
b. determine the width of each class;
c. determine the class limits.
Number of Classes - Answer✔✔Typically, between 5 and 20. Small datasets have less; larger
datasets have more.
Width of the Class - Answer✔✔Generally, it should be the same for each class. Approximate
class width = (largest data value - smallest data value)/number of classes.
3
, ©FYNDLAY.
Class Limits - Answer✔✔Each data observation must only belong to one class.
Relative Frequency Distributions - Answer✔✔frequency of theclass/n
To construct a frequency distribution in excel - Answer✔✔we must group the rows.
What if a class has no data? - Answer✔✔[Excel automaticallyremoves these classes]
To change this:Click the Layout and Print tab
Choose show items with no data; click OK
Histogram - Answer✔✔A visual display of a frequency, relative frequency, or percent frequency
distribution, where the variable of interest is on the horizontal axis and the frequency, relative
frequency, or percent frequency is on the vertical axis.
A histogram shows - Answer✔✔shows the shape of the distribution of
the variable of interest.
A distribution is skewed if more of the data is either
to the left or right of the distribution.
How would we construct a histogram in excel? - Answer✔✔a. Select any cell in the pivot table
report (A3:B9)
b. Click Insert on the Ribbon.
c. In the Charts group, click Recommended
Charts
d. Click OK.
set the gap width to 0
Cumulative Distributions - Answer✔✔Presents the number of data items with values less than or
equal to the upper-class limit for each class
cumulative relative frequency distribution - Answer✔✔A cumulative relative frequency
distribution shows the proportion of data items with values less than or equal to the upper limit
of each class.
cumulative percent frequency distribution - Answer✔✔A cumulative percent frequency
distribution shows the percentage of data items with values less than or equal to the upper limit
of each class.
Crosstabulation: - Answer✔✔a tabular summary of data for twovariables (either categorical or
quantitative)
4
