Qrb 501 Week 2
Running head: MEASUREMENT, SIMULTANEOUS EQUATIONS, AND TIME SERIES
Measurement, Simultaneous Equations, and Time Series Questions
QRB/501
MEASUREMENT, SIMULTANEOUS EQUATIONS, AND TIME SERIES
Measurement, Simultaneous Equations, and Time Series Questions
Levels of Measurement Question from; Statistical Techniques in Business and Economics text.
Ch.1, Exercise 18.
Refer to the Wage data, which reports information on annual wages for a sample of 100 workers. Also included are variables relating to industry, years of education, and gender for each worker. A) Which of the 12 variables are qualitative and which are quantitative? 1) Annual wage in dollars 2) Industry (1 = Manufacturing, 2 = Construction, 0 = Other) 3) Occupation (1 = Mgmt., 2 = Sales, 3 = Clerical, 4 = Service, 5 = Prof., 0 = Other) 4) Years of education 5) Southern resident (1 = Yes, 0 = No) 6) Non-white (1 = Yes, 0 = No) 7) Hispanic (1 = Yes, 0 = No) 8) Female (1 = Yes, 0 = No) 9) Years of Work Experience 10) Married (1 = Yes, 0 = No) 11) Age in years 12) Union member (1 = Yes, 0 = No) When the characteristic being studied is nonnumeric it is a Qualitative Variable. From the above 12 variables the ones that are qualitative are; 2) Industry, 3) Occupation, 5) Southern resident, 6) Non-white, 7) Hispanic, 8) Female, 10) Married, 12) Union Member. When the variable studied can be reported numerically it is called a
Quantitative Variable. From the above 12 variables the ones that are quantitative are; 1) Annual wage in dollars, 4) Years of education, 9) Years of work experience, 11) Age in years. B) Determine the level of measurement for each variable.
The level of measurement of each variable often dictates the calculations that can be done to summarize and present the data and will also determine the statistical
Measurement, Simultaneous Equations, and Time Series Questions
QRB/501
MEASUREMENT, SIMULTANEOUS EQUATIONS, AND TIME SERIES
Measurement, Simultaneous Equations, and Time Series Questions
Levels of Measurement Question from; Statistical Techniques in Business and Economics text.
Ch.1, Exercise 18.
Refer to the Wage data, which reports information on annual wages for a sample of 100 workers. Also included are variables relating to industry, years of education, and gender for each worker. A) Which of the 12 variables are qualitative and which are quantitative? 1) Annual wage in dollars 2) Industry (1 = Manufacturing, 2 = Construction, 0 = Other) 3) Occupation (1 = Mgmt., 2 = Sales, 3 = Clerical, 4 = Service, 5 = Prof., 0 = Other) 4) Years of education 5) Southern resident (1 = Yes, 0 = No) 6) Non-white (1 = Yes, 0 = No) 7) Hispanic (1 = Yes, 0 = No) 8) Female (1 = Yes, 0 = No) 9) Years of Work Experience 10) Married (1 = Yes, 0 = No) 11) Age in years 12) Union member (1 = Yes, 0 = No) When the characteristic being studied is nonnumeric it is a Qualitative Variable. From the above 12 variables the ones that are qualitative are; 2) Industry, 3) Occupation, 5) Southern resident, 6) Non-white, 7) Hispanic, 8) Female, 10) Married, 12) Union Member. When the variable studied can be reported numerically it is called a
Quantitative Variable. From the above 12 variables the ones that are quantitative are; 1) Annual wage in dollars, 4) Years of education, 9) Years of work experience, 11) Age in years. B) Determine the level of measurement for each variable.
The level of measurement of each variable often dictates the calculations that can be done to summarize and present the data and will also determine the statistical