QMB 3200 UCF MIDTERM EXAM 2024-2025 COMPLETE
ACTUAL EXAM QUESTIONS AND CORRECT VERIFIED
ANSWERS (FULL REVISED EXAM) LATEST UPDATED
VERSION |ALREADY GRADED A+
Data that can be classified into categories (e.g., gender, color); non-
numeric or ordinal values. Answer- Categorical Data
Data that is numerical and can be measured (e.g., income, weight).
Answer- Quantitative Data
-Data collected at a single point in time. answer- Cross-sectional Data
Data collected over various points in time. Answer- Time Series Data
Combines cross-sectional and time-series data. Answer- Panel Data
Entire set of elements. Answer- Population
A subset of the population. answer- Sample
Summarizes past events (e.g., total sales). Answer- Descriptive Analytics
,Uses statistical models to forecast future events (e.g., sales
forecasting). Answer- Predictive Analytics
Recommends actions (often using optimization models). Answer-
Prescriptive Analytics
The scale of data. Answer- Volume
Speed at which data is generated. Answer- Velocity
Types of data (e.g., text, audio). Answer- Variety
Reliability of data. answer- Veracity
Analytical techniques that describe what has happened in the past.
Answer- Descriptive Analytics
Analytical techniques that use models constructed from past data to
predict the future or assess the impact of one variable on another.
Answer- Predictive Analytics
Analytical techniques that yield a course of action. Answer- Prescriptive
Analytics
, A set of data that cannot be managed, processed, or analyzed with
commonly available software in a reasonable amount of time. Big Data
are characterized by 4 v's: volume, velocity, variety, and veracity.
Answer- Big Data
The process of using procedures from statistics and computer science
to extract useful information from extremely large databases. Answer-
Data Mining
-A tabular summary of data showing the number (frequency) of
observations in each of several nonoverlapping categories or classes.
Answer- Frequency Distribution
A tabular summary of data showing the fraction or proportion of
observations in each of several nonoverlapping categories or classes.
Answer- Relative Frequency Distribution
A tabular summary of data showing the percentage of observations in
each of several nonoverlapping classes. Answer- Percent Frequency
Distribution
A graphical device for depicting categorical data that have been
summarized in a frequency, relative frequency, or percent frequency
distribution. answer- Bar Chart
ACTUAL EXAM QUESTIONS AND CORRECT VERIFIED
ANSWERS (FULL REVISED EXAM) LATEST UPDATED
VERSION |ALREADY GRADED A+
Data that can be classified into categories (e.g., gender, color); non-
numeric or ordinal values. Answer- Categorical Data
Data that is numerical and can be measured (e.g., income, weight).
Answer- Quantitative Data
-Data collected at a single point in time. answer- Cross-sectional Data
Data collected over various points in time. Answer- Time Series Data
Combines cross-sectional and time-series data. Answer- Panel Data
Entire set of elements. Answer- Population
A subset of the population. answer- Sample
Summarizes past events (e.g., total sales). Answer- Descriptive Analytics
,Uses statistical models to forecast future events (e.g., sales
forecasting). Answer- Predictive Analytics
Recommends actions (often using optimization models). Answer-
Prescriptive Analytics
The scale of data. Answer- Volume
Speed at which data is generated. Answer- Velocity
Types of data (e.g., text, audio). Answer- Variety
Reliability of data. answer- Veracity
Analytical techniques that describe what has happened in the past.
Answer- Descriptive Analytics
Analytical techniques that use models constructed from past data to
predict the future or assess the impact of one variable on another.
Answer- Predictive Analytics
Analytical techniques that yield a course of action. Answer- Prescriptive
Analytics
, A set of data that cannot be managed, processed, or analyzed with
commonly available software in a reasonable amount of time. Big Data
are characterized by 4 v's: volume, velocity, variety, and veracity.
Answer- Big Data
The process of using procedures from statistics and computer science
to extract useful information from extremely large databases. Answer-
Data Mining
-A tabular summary of data showing the number (frequency) of
observations in each of several nonoverlapping categories or classes.
Answer- Frequency Distribution
A tabular summary of data showing the fraction or proportion of
observations in each of several nonoverlapping categories or classes.
Answer- Relative Frequency Distribution
A tabular summary of data showing the percentage of observations in
each of several nonoverlapping classes. Answer- Percent Frequency
Distribution
A graphical device for depicting categorical data that have been
summarized in a frequency, relative frequency, or percent frequency
distribution. answer- Bar Chart
