Statistics for Managers Using Microsoft Excel - Chapter 1 Exam Questions Answered Correctly (Graded A+)
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Module
Statistics for Managers Using Microsoft Excel CH1
Institution
Statistics For Managers Using Microsoft Excel CH1
Statistics for Managers Using Microsoft Excel - Chapter 1 Exam Questions Answered Correctly (Graded A+)
Categorical Variable (Qualitative) - Answers Any variable that is not quantitative is categorical. Categorical variables have no numerical meaning. Examples: yes/ no, Hair color, gender, field o...
Statistics for Managers Using Microsoft Excel - Chapter 1 Exam Questions Answered Correctly (Graded
A+)
Categorical Variable (Qualitative) - Answers Any variable that is not quantitative is categorical.
Categorical variables have no numerical meaning. Examples: yes/ no, Hair color, gender, field of study
Numerical Variables (Quantitative) - Answers Values that represent a counted or measured quantity
Discrete Variable (Quantitative) - Answers Arise from counting process e.g. number of text messages
sent today
Continuous variable (Quantitative) - Answers Arise from measuring process
e.g. international units, minutes, kilometres
e.g. how long it takes to...
Datum - Answers singular form of data
Data - Answers Plural noun
Nominal scale of measurement - Answers is a categorical measurement
classifies data into distinct categories in which
no ranking is implied
e.g.
- what is your favorite soft drink,
- your political party affiliation, and
- your gender.
Nominal scale of measurement - Answers Lowest of the four levels of measurement
Categories that are not more or less, but are different from one another in some way
Mutually exclusive and exhaustive categories
Named categories
Example: Gender
, 1 = Male
2 = Female
ordinal scale of measurement - Answers Data are assigned to categories that can be ranked with this
type of measurement.
ordinal scale of measurement - Answers Classifies data into distinct categories
Ranking is implied
e.g. first, second, third
ordinal scale - Answers a scale of measurement in which the measurement categories form a rank order
along a continuum
interval scale - Answers Ordered scale
Difference between measurements is a meaningful quantity
Measurements do not have a true zero point
ratio scale of measurement - Answers Highest form of measurement and
meets all of the rules of other forms of measurement;
- mutually exclusive categories,
- exhaustive categories,
- ordered ranks,
- equally spaced intervals, and a
- continuum of values
interval scale data - Answers Rating scales for subjective measures where distance is normally defined as
one scale unit
Example: Taste scale from 1 to 5, temperature Celsius, standardised scores
ratio scale data - Answers A true zero origin exists
Example: weight, age, heights, money spent, miles traveled, number of kids in household
Population - Answers Contains all of the items or individuals of interest that you seek to study
Full census
Sample - Answers a part of the population that we actually examine in order to gather information
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