Solution Manual For Business Statistics, Canadian Edition, 4th edition Norean R. Sharpe, Richard D. De Veaux, Paul F. Velleman, David Wright Chapter 2-24
Chapter 2—Data SECTION EXERCISES SECTION 2.1 1. a) Each row represents a different house that was recently sold. It is best described as a case. b) Including the house identifier, there are six variables in each row. 2. a) Each row represents a different transaction (not a customer or a book). It is best described as a case. b) Including the transaction identifier, there are eight variables in each row. SECTION 2.2 3. a) House_ID is an identifier (special type of categorical); Neighbourhood is categorical (nominal); YR_BUILT is quantitative (units—year), but could also be treated as categorical (ordinal); FULL_MARKET _VALUE is quantitative (units—dollars); SFLA is quantitative (units—sq. ft.). b) These data are cross-sectional. Each row corresponds to a house that recently sold—at approximately the same fixed point in time. 4. a) Transaction ID is an identifier (special type of categorical); Customer ID is an identifier (special type of categorical); Date is categorical or may be treated as numerical if redefined as how many days ago the transaction took place; ISBN is an identifier (special type of categorical); Price is quantitative (units—dollars); Coupon is categorical (simply nominal); Gift is categorical (simply nominal); Quantity is quantitative (unit—counts). b) These data are cross-sectional. Each row corresponds to a transaction at a fixed point in time. However, the date of the transaction has been recorded. Consequently, since a time variable is included, the data could be reconfigured as a time series. SECTION 2.3 5. The real estate data in Exercise 1 are not from a designed survey or experiment. Rather, the real estate major’s data set was derived from transactional data (on local home sales). The major concern with drawing conclusions from this data set is that we cannot be sure that the sample is representative of the population of interest (e.g., all recent local home sales or even all recent national home sales). 6. The student is using a secondary data source (from the internet). The main concerns about using these data for drawing conclusions is that the data were collected for a different purpose (not Copyright © 2021 Pearson Canada Inc. 117