Essay on Week 1 Business Statistics

755 Words Oct 29th, 2012 4 Pages
1.2 - Below we list several variables. Which of these variables are quantitative and which are qualitative?
Quantitative means that the measurement of the value gives an actual quantity that can mean “how much”, or “how many”. Whereas qualitative means we are simply recording into which of the categories the element falls. (Bowerman, O'Connell, Murphree, Orris, J. B. (2012). Essentials of Business Statistics 4th ed.).
A. The dollar amount on an accounts receivable invoice.
This would be quantitative, because it is showing the actual dollar amount and is not grouping it into different categories.
B. The net profit for a company in 2009.
This would fall under quantitative since seeing an actual number for a company and
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C. Television show classification.
Ordinal – Why? Because there is a reasoning behind the classifications. This allows the audience to see what kind of show they are going to watch.
D. Personal computer ownership.
Nominative-Why? There is no real reason or ranking as to who owns a computer and who doesn’t’ and to why they do or they don’t.
E. Restaurant rating.
Ordinal-Why? Because when critics rank restaurants it lets consumers know which ones have been chosen with the best food and the best service overall. Most people will really want to eat at restaurants ranked higher.
F. Income tax filing status.
Nominal-Why? It is just showing a list of classifications of what people are not ranking them in any order.
3.3 – Calculate the mean, median, and mode of each of the following population of numbers.
A. 9, 8, 10, 10, 12, 6, 11, 10, 12, 8
Mean = 9+8+10+10+12+6+11+10+12+8 = 96
Mean = 9.6

Median = 6-8-8-9-10-10-10-11-12-12 = 10+10/2
Median = 10
Mode = 10 Because 10 is the number that appears the most in this group.

B. 110, 120, 70, 90, 90, 100, 80, 130, 140.
Mean = 110+120+70+90+90+100+80+130+140 = 930/9= 103.33
Mean = 103.33
Median = 70-80-90-90-100-110-120-130-140 = 100
Median = 100 this is 100 because it is the number that meets in the middle.
Mode = 90 because it shows up twice…