BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A variable is any entity that can take on different values. OK, so what does that mean? Anything that can vary can be considered a variable. For instance, age can be considered a variable because age can take different values for different people or for the same person at different times.

Detailed explanation-2: -A variable is a characteristic that can be measured and that can assume different values.

Detailed explanation-3: -If your variable does not vary, it is by definition no longer a variable (instead, it would be considered a constant).

Detailed explanation-4: -A variable is a quantity that may be changed according to the mathematical problem. The generic letters which are used in many algebraic expressions and equations are x, y, z. In other words, a variable is a symbol for a number where the value is not known. For example, x + 5 = 10. Here “x” is a variable.

Detailed explanation-5: -A categorical variable that can take on exactly two values is termed a binary variable or a dichotomous variable; an important special case is the Bernoulli variable.