1. (14 marks) Consider the following variables: (a) Identify each of the followi

Question

1. (14 marks) Consider the following variables: (a) Identify each of the following variables as qualitative or quantitative and then identify their level as nominal, ordinal, interval, or ratio. (i) Bank account balance (ii) Preferred insurance company. (iii) Thickness of piece of paper. (iv) Diagnose H1N1 in a person. (b) Indicate each of the following variables are qualitative or quantitative. If the variable is quantitative, indicate if it is discrete or continuous. (i) Number of seeds which germinate. (ii) The time to complete a task (in hours). (iii) Names of airlines

Explanation / Answer

1 a)

i. Since account balance can be measured/counted it is a quantitative variable. It has a ratio scale as there is absolute zero defined.

ii. Qualitative. Ordinal

iii. Since thickness can be measured it is a quantitative variable. It has a ratio scale as there is absolute zero defined.

iv. Qualitative. Nominal

b)

i) quantitative, discrete as it can take only integer values.

ii) quantitative, continuous as in theory it time can be anything between 0 and infinity

ii) Qualitative

2)

Standard deviation = sqrt(variance) = 5

40 and 60 are 10 items away from mean value of 50. That is 2 standard deviations away from mean.

For a bell-shaped symmetrical distribution (i.e. Normal), 95% of weeks production will lie within two standard deviations from mean.

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