[QMB 210] - Midterm Exam Guide - Ultimate 28 pages long Study Guide!

• School: University of Tampa
• Department: Quantitative Methods in Business
• Course: QMB-210
• Professor: Shaista Nisar

Document Summary

Lecture 1: collected by yourself, gathered directly from the source, e. g. survey of students opinion. Secondary data collection: collected by someone else, already published (usually reports, e. g. Primary or secondary data: apple would like to measure the satisfaction levels of customers who purchased its new ipad product. Primary gathered through surveys/interviews: cleveland university needs to determine the current inflation rate to determine the annual salary increases for its staff for the upcoming years. Secondary - because cleveland is not the source that collects the inflation rates government data base: mcdonald"s would like to determine the average wait time for customers who use drive-through windows during the lunch hour. E. g: marital status, political party, eye color, name, data that can be categorized. Counted: number of children, defects per hour. Measured: weight, height, voltage, shoe size (watch how the question is worded/if you phrase it small, large then it becomes qualitative, size (cid:523) same as shoe size (cid:524)