Qmb 3200 Midterm Exam Graded A+

QMB 3200 Midterm Exam Graded A+Data - ANS-Facts, figures, and other evidence gathered through observations.Dataset - ANS-the complete set of raw data, for all observational units and variables, in a survey or experimentElement - ANS-the entity on which data is collectedvariable - ANS-a characteristic of interest for the elementsobservation - ANS-variables associated with the elementcross-sectional - ANS-data collected at one point in timetime series - ANS-data collected over timepanel - ANS-both cross-sectional and time seriesstatistical analysis - ANS-a research method that entails analyzing data that have already been collected to determine the strength of the relationship that may exist between two or more variablesdescriptive statistics - ANS-describes dataPopulation - ANS-the set of all elements of interest in a particular studysample - ANS-a subset of the populationstatistical inference - ANS-The process of using data obtained from a sample to make estimates or test hypotheses about the characteristics of a population.Descriptive Analytics - ANS-describes what has happenedPredictive Analytics - ANS-uses statistical model to predict the futurePrescriptive Analytics - ANS-uses data to find optimal solutionBig Data - ANS--volume-velocity-variety-veracitydata mining - ANS-make predictions from big datafrequency distribution - ANS-A summary chart, showing how frequently each of the various scores in a