Student
Phase 1
Concepts and Terminology of Statistics Applied to Business
Decision Making (DB2)
MGMT600-1202B-04
Terrence Ellison
Professor Daryl Korinek
May 23, 2012
There are two kinds of quantitative variables: discrete and continuous. Discrete variables have values that can be counted and must be integers, while continuous variables can assume any values between two given values. Examples of discrete variables include the value showing on the roll of a die (1–6), or the number of rainy days in a week (1–7). While continuous variable is the opposite, as such, although each event is unique, the probability of any one event cannot be directly measured because it can always be further broken down into smaller parts. Example of continuous variables would be height, although it can be measured in feet, inches would provide a more precise measurement. If measured in inches, a more precise measurement can be made in centimeters, then millimeters, then decimeters (CTU, 2011).
Three potential quantitative objectives that can be used to keep track of caller behavior are listed below:
1) How many are in your household 2) Ages in household 3) How often they buy snacks
The first quantitative objectives would be considered a discrete variable. As defined above, discrete variables are mutually exclusive and cannot be broken down into more precise measurements. In accordance with the requirements, the call center would need to keep track of the number of household members. In this case, the outcome would be a whole number; you can’t have .5 household members (Bowerman, 2011).
The second and third quantitative objective would be considered a continuous variable. These items can be broken down into smaller parts. For example, the caller may have a small child that is 2.5 or 29 months. Although the most common answer would not include a decimal, it could and this symbolizes a continual variable when the answer falls between two whole numbers. The
Concepts and Terminology of Statistics Applied to Business
Decision Making (DB2)
MGMT600-1202B-04
Terrence Ellison
Professor Daryl Korinek
May 23, 2012
There are two kinds of quantitative variables: discrete and continuous. Discrete variables have values that can be counted and must be integers, while continuous variables can assume any values between two given values. Examples of discrete variables include the value showing on the roll of a die (1–6), or the number of rainy days in a week (1–7). While continuous variable is the opposite, as such, although each event is unique, the probability of any one event cannot be directly measured because it can always be further broken down into smaller parts. Example of continuous variables would be height, although it can be measured in feet, inches would provide a more precise measurement. If measured in inches, a more precise measurement can be made in centimeters, then millimeters, then decimeters (CTU, 2011).
Three potential quantitative objectives that can be used to keep track of caller behavior are listed below:
1) How many are in your household 2) Ages in household 3) How often they buy snacks
The first quantitative objectives would be considered a discrete variable. As defined above, discrete variables are mutually exclusive and cannot be broken down into more precise measurements. In accordance with the requirements, the call center would need to keep track of the number of household members. In this case, the outcome would be a whole number; you can’t have .5 household members (Bowerman, 2011).
The second and third quantitative objective would be considered a continuous variable. These items can be broken down into smaller parts. For example, the caller may have a small child that is 2.5 or 29 months. Although the most common answer would not include a decimal, it could and this symbolizes a continual variable when the answer falls between two whole numbers. The