![Introduction to Probability and Statistics](https://www.bartleby.com/isbn_cover_images/9781133103752/9781133103752_largeCoverImage.gif)
Quantitative or Qualitative? Identify each variable as quantitative or qualitative:
a. Ethnic origin of a candidate for public office
b. Score (0−100) on a placement examination
c. Fast-food restaurant preferred by a student(McDonald’s, Burger King, or Carl’s Jr.)
d. Mercury concentration in a sample of tuna
![Check Mark](/static/check-mark.png)
(a)
Whether the given variable is qualitative or quantitative.
Answer to Problem 1.38SE
Qualitative
Explanation of Solution
Given information:
A statistical variable is given as - Ethnic origin of a candidate for a Public office.
Calculation:
A statistical variable is a characteristic that changes/varies over time for the objects under consideration.
An experimental unit is the individual or object on which a variable is measured.
Variables are of two types -
Given statistical variable is - Ethnic origin of a candidate for a Public office.
Here, ethnicity is being measured which is qualitative in nature.
Hence, nature of given variable is qualitative.
![Check Mark](/static/check-mark.png)
(b)
Whether the given variable is qualitative or quantitative.
Answer to Problem 1.38SE
Quantitative
Explanation of Solution
Given information:
A statistical variable is given as - Score
Calculation:
A statistical variable is a characteristic that changes/varies over time for the objects under consideration.
An experimental unit is the individual or object on which a variable is measured.
Variables are of two types -
Given statistical variable is - Score
Here, test is being measured which is quantitative in nature.
Hence, nature of given variable is quantitative.
![Check Mark](/static/check-mark.png)
(c)
Whether the given variable is qualitative or quantitative.
Answer to Problem 1.38SE
Qualitative
Explanation of Solution
Given information:
A statistical variable is given as - Fast food restaurant preferred by students (McDonald's, Burger Kings, or Carl's Jr.)
Calculation:
A statistical variable is a characteristic that changes/varies over time for the objects under consideration.
An experimental unit is the individual or object on which a variable is measured.
Variables are of two types -
Given statistical variable is - Fast food restaurant preferred by students (McDonald's, Burger Kings, or Carl's Jr.)
Here, food preference of students is being measured which is qualitative in nature.
Hence, nature of given variable is qualitative.
![Check Mark](/static/check-mark.png)
(d)
Whether the given variable is qualitative or quantitative.
Answer to Problem 1.38SE
Quantitative
Explanation of Solution
Given information:
A statistical variable is given as - Mercury concentration in a sample of Tuna.
Calculation:
A statistical variable is a characteristic that changes/varies over time for the objects under consideration.
An experimental unit is the individual or object on which a variable is measured.
Variables are of two types -
Given statistical variable is - Mercury concentration in a sample of Tuna.
Here, mercury concentration in a sample of Tuna is being measured which is quantitative in nature.
Hence, nature of given variable is quantitative.
Want to see more full solutions like this?
Chapter 1 Solutions
Introduction to Probability and Statistics
- Examine the Variables: Carefully review and note the names of all variables in the dataset. Examples of these variables include: Mileage (mpg) Number of Cylinders (cyl) Displacement (disp) Horsepower (hp) Research: Google to understand these variables. Statistical Analysis: Select mpg variable, and perform the following statistical tests. Once you are done with these tests using mpg variable, repeat the same with hp Mean Median First Quartile (Q1) Second Quartile (Q2) Third Quartile (Q3) Fourth Quartile (Q4) 10th Percentile 70th Percentile Skewness Kurtosis Document Your Results: In RStudio: Before running each statistical test, provide a heading in the format shown at the bottom. “# Mean of mileage – Your name’s command” In Microsoft Word: Once you've completed all tests, take a screenshot of your results in RStudio and paste it into a Microsoft Word document. Make sure that snapshots are very clear. You will need multiple snapshots. Also transfer these results to the…arrow_forward2 (VaR and ES) Suppose X1 are independent. Prove that ~ Unif[-0.5, 0.5] and X2 VaRa (X1X2) < VaRa(X1) + VaRa (X2). ~ Unif[-0.5, 0.5]arrow_forward8 (Correlation and Diversification) Assume we have two stocks, A and B, show that a particular combination of the two stocks produce a risk-free portfolio when the correlation between the return of A and B is -1.arrow_forward
- 9 (Portfolio allocation) Suppose R₁ and R2 are returns of 2 assets and with expected return and variance respectively r₁ and 72 and variance-covariance σ2, 0%½ and σ12. Find −∞ ≤ w ≤ ∞ such that the portfolio wR₁ + (1 - w) R₂ has the smallest risk.arrow_forward7 (Multivariate random variable) Suppose X, €1, €2, €3 are IID N(0, 1) and Y2 Y₁ = 0.2 0.8X + €1, Y₂ = 0.3 +0.7X+ €2, Y3 = 0.2 + 0.9X + €3. = (In models like this, X is called the common factors of Y₁, Y₂, Y3.) Y = (Y1, Y2, Y3). (a) Find E(Y) and cov(Y). (b) What can you observe from cov(Y). Writearrow_forward1 (VaR and ES) Suppose X ~ f(x) with 1+x, if 0> x > −1 f(x) = 1−x if 1 x > 0 Find VaRo.05 (X) and ES0.05 (X).arrow_forward
- Joy is making Christmas gifts. She has 6 1/12 feet of yarn and will need 4 1/4 to complete our project. How much yarn will she have left over compute this solution in two different ways arrow_forwardSolve for X. Explain each step. 2^2x • 2^-4=8arrow_forwardOne hundred people were surveyed, and one question pertained to their educational background. The results of this question and their genders are given in the following table. Female (F) Male (F′) Total College degree (D) 30 20 50 No college degree (D′) 30 20 50 Total 60 40 100 If a person is selected at random from those surveyed, find the probability of each of the following events.1. The person is female or has a college degree. Answer: equation editor Equation Editor 2. The person is male or does not have a college degree. Answer: equation editor Equation Editor 3. The person is female or does not have a college degree.arrow_forward
- Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGALGlencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillBig Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt
- Algebra: Structure And Method, Book 1AlgebraISBN:9780395977224Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. ColePublisher:McDougal Littell
![Text book image](https://www.bartleby.com/isbn_cover_images/9780547587776/9780547587776_smallCoverImage.jpg)
![Text book image](https://www.bartleby.com/isbn_cover_images/9780079039897/9780079039897_smallCoverImage.jpg)
![Text book image](https://www.bartleby.com/isbn_cover_images/9781680331141/9781680331141_smallCoverImage.jpg)
![Text book image](https://www.bartleby.com/isbn_cover_images/9780395977224/9780395977224_smallCoverImage.gif)