Week 1

Question 1

In short, explain what a data set is?

Answer 1

Data collected for a particular study/ research.

Question 1

What is the difference between Quantitative and Qualitative?

Answer 1

Quantitative tends to be a number like stocks or how many kids you have and Qualitative tends to be non-numbers like having brown hair.

Question 2

What are the two types of Qualitative data?

Answer 2

Nominative- a variable where there is no meaningful order or rank by which is is.

Ordinal- the opposite of nominative, a qualitative variable where there is meaningful order and rank (eg. excellent, good, average, poor or unsatisfactory)

Question 3

What are the two types of Quantitative data?

Answer 3

Discrete- Usually a numerical value which is certain (eg. how many phone calls you’ve had, number of students in a class)

Continuous- A numerical value which can be a fraction or a decimal (eg. weight, how long a phone call was, percentage of money lost)

Question 4

What is a variable?

Answer 4

Any characteristic of an element is a variable, or difference (eg. different heights, weights or length of feet)

Question 5

What is meant by Quantitative data ratio variable?

Answer 5

A variable which ratio can be measured on a scale (eg. Dylan ran 20 miles in 1/2 the time of Connor, it means Dylan is twice as fast or £30 is £20 more than £10)

Question 6

Explain the difference between cross-sectional data and time-series data?

Answer 6

Cross-sectional data is data observed and collected across different units at nearly the same time (eg. income of people within the year or closing stock prices of different firms)

Time-series is observed single unit data through a period of different times (eg. how someones income may change or daily stock data of a firm over a fiscal year)

Question 7

What’s the difference between Primary and Secondary data?

Answer 7

Primary data the research is conducted and observed by you for example phoning about which drink you prefer in a company drink test.

Secondary data is taken from a public source for example the stock market.

Question 8

What are the three population words?

Answer 8

Population, census and sample.

Question 9

Explain what is meant by population, census and sample?

Answer 9

Population is the over all human count of a country.

Census is the entire population including households.

Sample is taking a certain amount of people from a population within a country and using them for population maths.

Question 10

At Dylans estate, we asked 100 servants how much they spent on cleaning supplies which was £46, £678 and £56,764, what did we gain in terms of population, sample and data?

Answer 10

Population- Dylans estate

Sample- 100 of Dylans servants

Data collected- Three spent £46, £678 and £56,764

Question 11

Describe what may be used if a consensus is too small?

Answer 11

A statistical inference, it would be used if you want data with you can generalise. Such as an electric car manufacturer producing 50 cars and selecting 1 car at random and looking at its mpg and it gets from 30-35mpg around 40 times, you could use that for statistical inference.

Question 12

What is the difference between frequency and relative frequency?

Answer 12

Frequency is how many times an item appears and relative frequency is the number of variables that appear often (such as grouped numbers like 56 56 56 56 76 76 76 76 56 56 56 56 76 76 76 76 76 twice)

Question 13

How would you obtain a percentage frequency?

Answer 13

Number of frequency/ number of observations x 100