UCF QMB 3200 Midterm Study Q&A Latest Update 2025 Update

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UCF QMB3200 Midterm Study | Q&A Latest 2025/2026, 100% PASS 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.