Week 1 Business Statistics

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BUS308: Statistics for Managers (BAM1146A)

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Week 1 Business Statistics

1.2 Which of these variables are quantitative and which are qualitative?

a. The dollar amount on accounts receivable invoice.

Answer: Quantitative

Explanation: Quantitative variables refer to the use of numbers to measure the quantity. In this instance the quantitative variable would be the dollar amount, "how much", on the invoice.

b. The net profit for a company in 2009.

Answer: Quantitative

Explanation: In order to reach the net profit the company used the figures ("how much") less cost ("how much") incurred to reach the total net profit for 2009.

c. The stock exchange on which a company's stock is traded.

Answer: Qualitative

Explanation: A...