Math 533

Variables can be qualitative and quantitative. Qualitative variables take on values that are names or labels. Quantitative variables are numeric. They represent a measurable quantity. When it comes to the data below, location will be qualitative variable and income, size, years and credit balance will be quantitative variables.

LOCATION INCOME(1000) SIZE YEARS CREDIT BALANCE()

Urban 54 3 12 4016

Rural 30 2 12 3159

Suburban 32 4 17 5100

Suburban 50 5 14 4742

Rural 31 2 4 1864

Urban 55 2 9 4070

Rural 37 1 20 2731

Urban 40 2 7 3348

Suburban 66 4 10 4764

Urban 51 3 16 4110

Urban 25 3 11 4208

Urban 48 4 16 4219

Rural 27 1 19 2477

Rural 33 2 ...