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QMB 3200 EXAM QUESTIONS AND ANSWERS (GRADED A)

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QMB 3200 EXAM QUESTIONS AND ANSWERS (GRADED A)QMB 3200 EXAM QUESTIONS AND ANSWERS (GRADED A)QMB 3200 EXAM QUESTIONS AND ANSWERS (GRADED A)QMB 3200 EXAM QUESTIONS AND ANSWERS (GRADED A)Data - ANSWER-facts and figures collected, analyzed, or summarized Dataset - ANSWER-all the data collected in an...

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QMB 3200 EXAM QUESTIONS AND
ANSWERS (GRADED A)
Data - ANSWER-facts and figures collected, analyzed, or summarized

Dataset - ANSWER-all the data collected in an analysis

Element - ANSWER-the entity on which data is collected

Variable - ANSWER-characteristic of interest of an element

Observation - ANSWER-all variables associated

Categorical - ANSWER-numeric or ordinal values of measurement

Quantitative - ANSWER-uses numeric measures

Cross Sectional - ANSWER-data collected at a similar point in time

Time Series - ANSWER-data collected over a series of time periods

Panel - ANSWER-combination of cross sectional and time series data

Descriptive Staistics - ANSWER-describes the data or variables

Population - ANSWER-set of all data/variables n statistical analysis

Sample - ANSWER-subset of the population

Statistical inference - ANSWER-uses data from a sample to make estimates and test
hypothesis about the characteristics of a population

Descriptive Analytics - ANSWER-describes what has happened in the past

Predictive Analytics - ANSWER-statistical models from he pas to predict the future or
access the impact of one variable on another

Prescriptive Analytics - ANSWER-uses models seeking to find an optimal solution (type
of optimization model)

Volume - ANSWER-number of observations

Velocity - ANSWER-speed data is collected

, Variety - ANSWER-forms of data are of different types

Veracity - ANSWER-reliability of the data generated

Data Mining - ANSWER-focuses on extracting predictive information from Big Data

Skewed - ANSWER-skewed to left- mean<median
skewed right- mean>median
symmetric- mean=median

Z-score - ANSWER-measures relative location of values in dataset

Chebyshevs Theorem - ANSWER-A theorem that can be used to make statements
about the proportion of data values that must be within a specified number of standard
deviations of the mean.

Probability - ANSWER-a numerical measure of the likelihood that an event will occur

Frequency Distribution - ANSWER-tabular summary of data showing the number of
observations in each of several non overlapping categories

Percent Frequency - ANSWER-relative frequency * 100

Relative Frequency - ANSWER-(frequency of class)/(n)

cumulative relative frequency - ANSWER-shows the proportion of items with values less
than or equal to the upper limit of each class

cumulative percentage - ANSWER-shows the percent of data with values less than or
equal to the upper limit

Crosstabulation - ANSWER-a tabular summary of data for two variables

Mean - ANSWER-average
=average(B:B)

Median - ANSWER-middle value
=median(B:B)

Mode - ANSWER-value with greatest frequency
=mode.sngl(B:B:)

Weighted Mean - ANSWER-used when observations have different weights

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