EIU Bus 2810 - Chapter 1 & 2 Module

Which measurement level (nominal, ordinal, interval, ratio) is the response to each question?

(a) How would you describe your level of skill in using Excel? (check one) Ordinal (b) How often do you use Excel? (check one) Ordinal (c) Which version of Excel do you use? (check one) Nominal (d) I spend ___________ hours a day using Excel Ratio

What type of data (categorical, discrete numerical, or continuous numerical) is each of the following variables?

(a) Length of a TV commercial Continuous Numerical (b) Number of peanuts in a can of Planter's Mixed Nuts Discrete Numerical (c) Occupation of a mortgage applicant Catagorical (d) Flight time from London Heathrow to Chicago O'Hare Continuous Numerical

Which measurement level (nominal, ordinal, interval, ratio) is each of the following variables?

(a) Number of employees in the Walmart store in Hutchinson, Kansas Ratio Data (b) Number of merchandise returns on a randomly chosen Monday at a Walmart store Ratio (c) Temperature (in Fahrenheit) in the ice-cream freezer at a Walmart store Interval (d) Name of the cashier at register 3 in a Walmart store Nominal (e) Manager's rating of the cashier at register 3 in a Walmart store Ordinal (f) Social Security number of the cashier at register 3 in a Walmart store Nominal

The target population is all stocks in the S&P 500 index. Is each of the following a parameter or a statistic?

(a) The average price/earnings ratio for all 500 stocks in the S&P index. Parameter (b) The proportion of all stocks in the S&P 500 index that had negative earnings last year Parameter (c) The proportion of energy-related stocks in a random sample of 50 stocks. Statistic (d) The average rate of return for 20 stocks recommended by a broker Statistic

Which type of data (cross-sectional or time series) is each variable?

(a) Value of Standard & Poor's 500 stock price index at the close of each trading day last year Time Series (b) Closing price of each of the 500 stocks in the S&P 500 index on the last trading day this week Cross Sectional (c) Dividends per share paid by General Electric common stock for the last 20 quarters Time Series (d) Latest price/earnings ratios of 10 stocks in Bob's retirement portfolio Cross Sectional