Question

1.2 Below we list several variables. Which of these variables are quantitative and which are qualitative? Explain.

a. The dollar amount on an accounts receivable invoice.

b. The net profit for a company in 2009.

Answer 1

Answer on Question #43925 – Math – Statistics and Probability

Question:

Below we list several variables. Which of these variables are quantitative and which are qualitative? Explain.

a. The dollar amount on an accounts receivable invoice.

b. The net profit for a company in 2009.

Solution:

A quantitative variable is one in which the variates differ in magnitude, quantitative variables can be counted. A qualitative variable deals with a description.

In this case both variables in a. and in b. are quantitative, because as the dollar amount on an accounts receivable invoice and the net profit for a company in 2009 can be counted.

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