MIS171 Lecture Notes - Lecture 1: Business Analytics, Categorical Variable, Level Of Measurement

• School: Deakin University
• Department: Business and Law
• Course: MIS171
• Professor: All

Document Summary

The data collected in a particular study are referred to as a dataset. The people, places or things for which we store and maintain information are called entities. A variable (or attribute) is a characteristic of interest for the entities. The set of measurements collected for a particular entity is called a record (or observation). For analysis purposes data can be classified as being categorical or numerical. The statistical analysis that is appropriate depends on the type of data. In general, there are more alternatives for statistical analysis when the data are numerical. Labels or names used to identify an attribute of each entity. Can be recorded in either numeric or nonnumeric format. Usually counted or expressed as a proportion or a percentage. Numerical data indicate how many or how much: Ordinary arithmetic operations are meaningful for numerical data. Numerical data can be converted to categorical data. Alar(cid:455) (cid:272)a(cid:374) (cid:271)e (cid:272)o(cid:374)(cid:448)erted i(cid:374)to (cid:858)lo(cid:449)(cid:859), (cid:858)middle(cid:859) a(cid:374)d (cid:858)high(cid:859).