Statistic Solution 1

In: Business and Management

Submitted By chaulenhu
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[pic]Chapter 1
Introduction and descriptive Statistics

1-1. 1. quantitative/ratio 2. qualitative/nominal 3. quantitative/ratio 4. qualitative/nominal 5. quantitative/ratio 6. quantitative/interval 7. quantitative/ratio 8. quantitative/ratio 9. quantitative/ratio 10. quantitative/ratio 11. quantitative/ordinal

1-2. Data are based on numeric measurements of some variable, either from a data set comprising an entire population of interest, or else obtained from only a sample (subset) of the full population. Instead of doing the measurements ourselves, we may sometimes obtain data from previous results in published form.

1-3. The weakest is the Nominal Scale, in which categories of data are grouped by qualitative differences and assigned numbers simply as labels, not usable in numeric comparisons. Next in strength is the Ordinal Scale: data are ordered (ranked) according to relative size or quality, but the numbers themselves don't imply specific numeric relationships. Stronger than this is the Interval Scale: the ordered data points have meaningful distances between any two of them, measured in units. Finally is the Ratio Scale, which is like an Interval Scale but where the ratio of any two specific data values is also measured in units and has meaning in comparing values.

1-4. Fund: Qualitative Style: Qualitative US/Foreign: Qualitative 10 yr Return: Quantitative Expense Ratio: Quantitative

1-5. Ordinal.

1-6. A qualitative variable describes different categories or qualities of the members of a data set, which have no numeric relationships to each other, even when the categories happen to be coded as numbers for convenience. A quantitative variable gives numerically meaningful information, in terms of ranking, differences, or ratios…...

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