BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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parameter
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variable
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sample
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observation
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Detailed explanation-1: -A characteristic or a quantity of interest that can take on different values is known as a variable.
Detailed explanation-2: -A variable is a characteristic that can be measured and that can assume different values.
Detailed explanation-3: -variable of interest, in an experimental study, a changing quantity that is measured. One or more of these variables, referred to as the factors of the study, are controlled so that data may be obtained about how the factors influence another variable referred to as the response variable, or simply the response.
Detailed explanation-4: -Hence, a quantity that can take various values is called a variable.
Detailed explanation-5: -You can see that one way to look at variables is to divide them into four different categories ( nominal, ordinal, interval and ratio).