Preview

STAS HW ASSIGN WK1

Good Essays
Open Document
Open Document
664 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
STAS HW ASSIGN WK1
MG 620 Statistics for Managers

HOME WORK ASSIGNMENT 1

SUBMITTED BY
HARSH KAVISHWAR

Question 1.1
Four different beverages are sold at a fast-food restaurant: soft drinks, tea, coffee, and bottled water.
a. Explain why the type of beverage sold is an example of a categorical variable
ANS. Categorical variables take values that fall into one or more categories. As there are 4 different types of drinks, they would all fall into their own categories rather than numerical.

b. Explain why the type of beverage sold is an example of a nominal scaled variable
ANS. The type of drinks sold is an example of a nominally scaled variable as there are no rankings involved between the drinks. For example, each type of drink is equal.

Question 1.2
U.S. businesses are listed by size: small, medium, and large. Explain why business size is an example of an ordinal scaled variable
ANS. Ordinal value variables are variable which are divided into categories with same ranking or order implied on the categories formed. Therefore the business size is an example of the ordinal scale variable because we divide the variable into categories These categories being small, medium and large.

Question 1.3
The time it takes to download a video from the Internet is measured.
a. Explain why the download time is a continuous numerical variable
ANS. Numerical variables record numbers through observations. As the time taken to download the file produces a number represented by time, the download is a numerical variable.

b. Explain why the download time is a ratio scaled variable
ANS. The download time is a ratio scaled variable as the time differences involve a true zero point, meaning that they use the same time scale.

Question 1.25 Page 27
Suppose that 5,000 sales invoice are separated into four strata. Stratum 1 contains 50 invoices, stratum 2 contains 500 invoices, stratum 3 contains 1,000 invoices, and stratum 4 contains 3,450 invoices. A

You May Also Find These Documents Helpful

  • Good Essays

    statistics 1

    • 713 Words
    • 3 Pages

    1.2 U.S. businesses are listed by size: small, medium, and large. Explain why business size is an example of an ordinal scaled variable…

    • 713 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Acct 505 Course Project

    • 596 Words
    • 3 Pages

    The 2nd individual variable is SIZE which is considered is a quantitative variable. The measures of central tendency and variation are calculated for this variable below:…

    • 596 Words
    • 3 Pages
    Good Essays
  • Good Essays

    WGU MSN paper

    • 1186 Words
    • 5 Pages

    Know the properties of & be able to identify or provide examples of quantitative vs. categorical variables…

    • 1186 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    d. Choose one of the variables in your dataset and classify it according to the levels of measurement. Explain how you know.…

    • 343 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    Pamd Sue

    • 1852 Words
    • 8 Pages

    The data set has 37 independent variables. This includes 7 categorical variables for competitive type and 30 numerical categories. There are 250 stores, meaning the sample size is 250. As the sales are given in $1,000’s of dollars it is best to remember that a unit change in x will correspond to that coefficient of x multiplied by 1,000.…

    • 1852 Words
    • 8 Pages
    Better Essays
  • Good Essays

    5. Classify the following data as quantitative or qualitative for the students in a statistics class:…

    • 453 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Math

    • 447 Words
    • 2 Pages

    4. Tell whether the following types of data are qualitative or quantitative. Then identify the…

    • 447 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Sampling and Work Study

    • 1135 Words
    • 5 Pages

    Answer: The variable of question A is qualitative information which deals with apparent qualities (subjective properties). It may also refer to mass, time, or productivity. The level of measurement would be Ordinal variables because it allows more flexibility than nominal variables, because they offer an ordered set of choices. You can calculate percentiles and calculate the median (middle response of a ranked set of answers). They are not numeric with standardized intervals, however, so the extents of the data analysis…

    • 1135 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    Business Research

    • 260 Words
    • 2 Pages

    Topic: Identify dependent and independent variables in business research. To be categorized as a customer, an individual must have a history of shopping at the establishment at least twice before the start of the study with expenditures of more than $10. This is an example of _____. Question Source: Textbook: Ch. 3…

    • 260 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    A population is the entire group to be studied and a sample is a portion of the population.…

    • 3045 Words
    • 13 Pages
    Powerful Essays
  • Satisfactory Essays

    For each description of data in Exercises 1 to 26, identify the W’s, name the variables, specify for each variable whether its use indicates it should be treated as categorical or quantitative, and for any quantitative variable identify the units in which it was measured ( or note that they were not provided).…

    • 538 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Answer: Numerical; discrete variables because the answer represent quantities. The numerical values that from a counting process.…

    • 885 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    MGT 521 Final Exam

    • 613 Words
    • 2 Pages

    MGT 521 Final Exam 1) John writes a memo to his employees. Putting his thoughts onto paper is an example of 2) Chantel received an invitation to a web meeting that will take place at 300 p.m. She accepted the invitation. This is an example of 3) You are doing research on political issues and find that you are on a conservative leaning site. What type of source credibility issue is this 4) When reviewing an educational math website, you find the authors background is in English. What type of source credibility issue is this 5) A famous ice cream manufacturer sent workers to a nearby grocery store to offer shoppers a sample of its new flavor. The workers provided samples to 300 shoppers and noted that 80 of the sample population stated they liked the flavor. Based on this scenario, which of the following is an example of an inference 6) Persuading or convincing others to accept your argument means the reasoning must be logical. Which of the following is an example of logical flaws or fallacies 7) What is the best way for the CEO to deal with managers in key positions who continue to resist a major change 8) Finding a win-win solution that allows parties who are involved to have their goals achieved is an example of 9) What is emphasized more in ethical leadership theories than in transformational leadership 10) Ethical behavior and integrity for a leader is most likely to result in 11) A common characteristic of most entrepreneurs is that they 12) In order to make an intelligent investment decision, entrepreneurs should 13) The customers, employees, stockholders, suppliers, creditors, and others who stand to gain or lose by the policies and activities of a business represent the firms 14) When a firm makes use of the SWOT analysis, one of its objectives is to 15) The process of rating an organizations practices, processes, and products against the best of the world is known as 16) Companies benefit today by inter-firm cooperation. One of the ways they…

    • 613 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    There are many types of variables like the dependent, independent, moderating, intervening, discrete, continuous, extraneous etc.,…

    • 948 Words
    • 4 Pages
    Better Essays
  • Good Essays

    Qualitative variables can be placed into distinct categories according to some characteristic or attribute. Quantitative variables are numerical in nature and can be ordered or ranked. Quantitative variables can be further classified into two groups. o Discrete variables assume values that can be counted. o Continuous variables…

    • 754 Words
    • 4 Pages
    Good Essays