Statistics for Management

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Q1. (a) What is the difference between a qualitative and quantitative variable? [5 Marks] (b) A town has 15 neighbourhoods. If you interviewed everyone living in one particular neighbourhood, would you be interviewing a population or a sample from the town? Would this be a random sample? If you had a list of everyone living in the town, called a frame, and you randomly selected 100 people from all neighbourhoods, would this a random sample? [5 Marks]

Answer:
(a) Qualitative data deals with meanings while quantitative data deals with numbers. Qualitative data describes properties or characteristics that are used to identify things. Quantitative data describes data in terms of quantity using the numerical figure accompanied by measurement unit. Statistics deals only with quantitative data.

Statistics deals with numerical data, which can be expressed in terms of quantitative measurements. So, the qualitative phenomenon like beauty, intelligence cannot be expressed numerically and any statistical analysis cannot be directly applied on these qualitative phenomena. But Statistical techniques may be applied indirectly by first reducing the qualitative data to accurate quantitative terms. For example, the intelligence of a group of students can be studied on the basis of their marks in a particular examination.

i) The number of transactions occurring in an ATM per day -- Quantitative data

ii) The popular brand name in cars is Maruthi. – Qualitative data

If want to do statistic in a particular area and interviewed everyone then it is called as population and if you doing statistic analysis for a town and interviewed only 15 neighborhoods then it is called that interviewing a sample from town. It is also called “chunk” which refers to the fraction of the population being investigated which is selected neither by probability nor by judgment.

Moreover, a list or framework should be available for the selection of the sample. It is used to make pilot...
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