Business > Class Notes > Variable is a characteristic of an individual. (All)
Variable is a characteristic of an individual.
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Variable is a characteristic of an individual. • Qualitative or Categorical: places an individual into one of several groups or categories (finitely many possible) • Quantitative: measurements ... represent quantities, “how many” (infinite possibile) Scales of Measurement: • Ratio variable o Quantitative scale (almost all) o Ratios meaningful, inherently defined zero (salary, weight, distance) • Interval variable o Quantitative scale (very few) o Ratios not meaningful, no inherently defined zero (e.g., temperature ) • Ordinal variable o Qualitative (Categorical) scale o Meaningful ordering or ranking of categories (e.g., class [Show More]
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