2.8 Which type of data (nominal, ordinal,interval, ratio) is each of the followi

ID: 2914564 • Letter: 2

Question

2.8 Which type of data (nominal, ordinal,interval, ratio) is each of the following variables? Explain.

a. Numberof employees in the Wal-Mart store in Hutchinson, Kansas.

b. Numberof merchandise returns on a randomly chosen Monday at a Wal-Martstore.

c.Temperature (in Fahrenheit) in the ice-cream freezer at a Wal-Martstore.

d. Name ofthe cashier at register 3 in a Wal-Mart store.

e. Birthmonth of the cashier at register 3 in a Wal-Mart store.

f. Social security number of the cashier at register 3 in aWal-Mart store.

2.16 Is each of the following a parameter or astatistic? If you are uncertain, explain the issues.

a. Theaverage price/earnings ratio for all 500 stocks in the S&Pindex.

b. Theproportion of all stocks in the S&P 500 index that had negativeearnings last year.

c. Theproportion of energy-related stocks in portfolios owned by 50investors.

d. Theaverage rate of return for stock portfolios recommended by 50brokers.

2.16 Is each of the following a parameter or astatistic? If you are uncertain, explain the issues.

a. Theaverage price/earnings ratio for all 500 stocks in the S&Pindex.

Parameter: all 500 were included in the study

b. Theproportion of all stocks in the S&P 500 index that had negativeearnings last year. Parameter: all 500 were included in thestudy

c. Theproportion of energy-related stocks in portfolios owned by 50investors. Statistic: 50 investors were examined (notall)

d. Theaverage rate of return for stock portfolios recommended by 50brokers. Statistic: 50 brokers were examined (notall)

2.8 Which type of data (nominal, ordinal,interval, ratio) is each of the following variables? Explain.

a. Numberof employees in the Wal-Mart store in Hutchinson, Kansas.Ratio (Meaningful zeroexists)

b. Numberof merchandise returns on a randomly chosen Monday at a Wal-Martstore. Ratio (Meaningful zeroexists)

c.Temperature (in Fahrenheit) in the ice-cream freezer at a Wal-Martstore. Interval (Distance hasmeaning)

d. Name ofthe cashier at register 3 in a Wal-Mart store. Nominal(since it merely identifies acategory)

e. Birthmonth of the cashier at register 3 in a Wal-Mart store.Ordinal ( since rank has a meaning)

f. Socialsecurity number of the cashier at register 3 in a Wal-Mart store.Nominal (since it merely identifies acategory)

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