TSTA602 Quantitative Methods for Accounting and Finance

Assignment Help Applied Statistics

Reference no: EM133051988

TSTA602 Quantitative Methods for Accounting and Finance - Top Education Institute

Problem Set

Question 1. A bakery uses three different types of flour to make bread: wheat, wholemeal and gluten-free.
a. Explain why flour type is a categorical variable.
b. Explain why flour type is a nominal variable.

Question 2. The bakery sells three coffees in three different size cups: small, medium and large. Explain why the size of the cup is an ordinal variable.

Question 3. The following information is collected from a group of students:
a. Gender
b. Age
c. Number of siblings

Classify each of the above variables in terms of whether it is categorical or numerical, whether it is discrete or continuous and specify its level of measurement.

Question 4. For each of the following variables, determine whether the variable is categorical or numerical and determine its measurement scale. If the variable is numerical, determine whether the variable is discrete or continuous.
a. Number of mobile phones in the household
b. Monthly data usage (in MB)
c. Number of text messages exchanged per month
d. Voice usage per month (in minutes)
e. Whether the mobile phone is used for email.

Question 5. Results of a 2015 Contact Solutions study reveal insights on perceptions and attitudes toward mobile shopping, providing direction to retailers for developing strategies for investing their dollars in the mobile appl experience. The research is based on an online survey with a sample of 1600 U.S. adults who have made purchases via their mobile app.

The study shows that 23% of consumers indicate that in-app recommendations would drive them to add more items to their cart and that 33% would spend more time in the app. But shopper priorities change the moment they need help; they expect to get it immediately and effortlessly. If forced to stop what they are doing and leave the app to get help, 1 out of 4 shoppers would likely not make a purchase with their mobile device.
a. Describe the population of this study.
b. Describe the sample that was collected.
c. Describe a parameter of interest.
d. Describe the statistic used to estimate the parameter in part c.

Reference no: EM133051988

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