UCF QMB3200 Midterm Study Test| Questions with 100% Correct Answers (A Rated) Analytics - ANSWER the scientific process of transforming data into insight for making better decisions
Descriptive Analytics - ANSWER Analytical techniques that describe what has happened in the past.
Predictive Analytics - ANSWER Analytical techniques that use models constructed from past data to predict the future or assess the impact of one variable on another.
Prescriptive Analytics - ANSWER Analytical techniques that yield a course of action.
Big Data - ANSWER 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.
Data Mining - ANSWER The process of using procedures from statistics and computer science to extract useful information from extremely large databases.
Frequency Distribution - ANSWER A tabular summary of data showing the number (frequency) of observations in each of several nonoverlapping categories or classes.
Relative Frequency Distribution - ANSWER A tabular summary of data showing the fraction or proportion of observations in each of several nonoverlapping categories or classes.
Percent Frequency Distribution - ANSWER A tabular summary of data showing the percentage of observations in each of several nonoverlapping classes.
- / 2
Bar Chart - ANSWER A graphical device for depicting categorical data that have been summarized in a frequency, relative frequency, or percent frequency distribution.
Pie Chart - ANSWER A graphical device for presenting data summaries based on subdivision of a circle into sectors that correspond to the relative frequency for each class.
Class Midpoint - ANSWER the value halfway between the lower and upper class limits
Dot Plot - ANSWER a graphical device that summarizes data by the number of dots above each data value on the horizontal axis
Histogram - ANSWER A graphical display of a frequency distribution, relative frequency distribution, or percent frequency distribution of quantitative data constructed by placing the class intervals on the horizontal axis and the frequencies, relative frequencies, or percent frequencies on the vertical axis.
Cumulative Frequency Distribution - ANSWER A tabular summary of quantitative data showing the number of data values that are less than or equal to the upper class limit of each class.
Cumulative Relative Frequency Distribution - ANSWER A tabular summary of quantitative data showing the fraction or proportion of data values that are less than or equal to the upper class limit of each class.
Cumulative Percent Frequency Distribution - ANSWER A tabular summary of quantitative data showing the percentage of data values that are less than or equal to the upper class limit of each class.
Stem-and-leaf Display - ANSWER a graphical display used to show simultaneously the rank order and shape of a distribution of data
- / 2