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Chapter 1

BUEC 232 Chapter Notes - Chapter 1: Minitab, List Of Statistical Packages, Measuring Instrument

Business Economics
Course Code
BUEC 232
Lorene Linklater

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BUEC 232
- Primary sources: the data collector is the one using the data for analysis
- Secondary sources: the person performing the statistical analysis is not the data collector
Types of variables
Data Type Question Types Responses
Categorical Do you currently own any stocks/bonds Yes / No
Discrete To how many magazines are you currently subscribed _______ #
Numerical Continuous How tall are you? _______inches
- Categorical variables (also known as qualitative variables) have values that can only be placed
into categories such as yes and no, or what day of the week their purchase was on (for example)
- Numerical variables (also known as quantitative variables) have values that represent quantities.
Numerical variables are further subdivided as discrete or continuous variables
- Discrete variables have numerical values that arise from a counting process
- Continuous variables produce numerical responses that arise from a measuring process (the
response could take on any value in a continuum, or interval, depending on the precision of the
measuring instrument.
Types of variables
- Statistical package: a program engineered from the ground up to perform statistical analysis as
accurately as possible
- Worksheets: spreadsheets used by both Minitab and Excel to store data collect for analysis
which the intersections of rows and columns form cells, boxes into which you make entries.
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