QNT351 Quantitative Analysis for Business Week 1 DQ

Level of Measurement

Develop five demographic questions to measure gender, age, years of experience, level of education, and ethnicity. Identify the level of measurement used.

Four Levels of Measurement Scenario

Data was collected by a large car manufacturer concerning a new prototype car, the Cielo. Thirty carefully selected respondents were shown the car and fully briefed about its capabilities. The data collected included age in years, gender, social status—ranging from 10, low status, to 30, high status measured by Likert scale; attitude toward the Cielo—ranging from 6, negative attitude, to 30, positive attitude measured by Likert Scale; and intention to purchase the Cielo—yes or no.

What is the importance of statistics in business decision making? Describe a business situation where statistics was used in making a decision.

What level of data is a telephone number? Explain. Why is it important to make a distinction between four levels of measurement?

What are the four data measurement scales? Explain with examples. Which level of measurement is lowest and why?