Quantitative II Final Assignment
Quantitative II Final Assignment
1.10. Probability Is the chance, or likelihood, that a particular event will occur.
2.1. Primary data is data that is recorded for the first time at the source and with a
specific purpose in mind it can either be internal or external and it’s of high quality.
Secondary data is data that already exists in a processed format. It was previously
collected and processed by others for a purpose other than the problem at hand.
It can also be internally or externally .It takes a short period of time to get the data
and it’s less expensive compared to primary data.
2.2. Internal data is sourced from within the company. It is data that is generated
during normal course of business activities. Its inexpensive collect, readily
available from the company database and of good quality.
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External data is sources outside the country an organizing. They are mainly
business associations. The cost and reliability of external data is dependent on the
source.
2.3. Discrete variables is a whole number (integer) data.
Continuous variable is any number that can occur in the interval
2.4. Qualitative data these are non-numeric response data. The data is
represented by categories only.
Quantitative data this are numeric response to data. These are real numbers that
can be manipulated using arithmetic operations (add subtract multiply divide)
2.5. Finite population it is possible to count the units contained in the population,
and it can be called a countable population.
Infinite population it is not possible to count the units contained in the population,
and it can be called uncountable population.
Question 2
2.1. Is a branch of mathematics working with data collection, organization, analysis,
interpretation and presentation….So statistics is all about collecting raw data and
transform that raw data in to a few summary measures that represent useful and
usable information to support effective decision making.
2.2. Descriptive statistics condenses sample data in to a few summary descriptive
measures. When large quantities of data have been gathered, there is a need to
organise, summarise and extract the essential information contained within this data
for communication to management.
Inferential statistics generalises sample findings to the broader population. It
only describes the behaviour of a random variable in a sample. They are therefore
interested in the bigger population picture.
2.3. The four scale of measurement
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Ratio scale ratio data consist of all real numbers associated with
quantitative random variables. Ratio data has all the properties of
numbers that allow such data to be manipulated using all arithmetic
operation.
Interval scale is associated with numeric data and quantitative random
variables. It is generated mainly from rating scale, which are used in
survey questionnaires to measure respondents’ attitudes and
motivations.
Ordinal scale is also associated with categorical data, has an implied
ranking between the different categories of the qualitative random
variable.
Nominal scale is associated with categorical data. Nominal data is the
weakest form of data to analyse since the codes assigned to the various
categories have no numerical properties.
2.4. The three methods of data collection.
Observation method is a method under which data from the field is collected
with the help of observation by the observer or by personally going to the field.
Surveys method gather primary data through the direct questioning of
respondents using questionnaires to structure and record the data. Surveys are
the most common form of data collection in consumer marketing and socio-
economic research.
Experimentation primary data can also be obtained by conducting
experiments. This means that the analyst manipulates certain variable under
controlled conditions.
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2. Convenience sampling this method dependent on the ease of access to
subjects such as surveying customers at a mall or on a busy street. E.g.
Giving pamphlets randomly on the street to people for upcoming event.
Question 3
3.2.
6 8 4 6.5
P (A) = (10 x10) + (10 x 10 )
48 26
+ 100
100
74
= 0.74
100
74% chance students who are graduate and non-graduate will succeed
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3.3.
4 6.5
P (A) = (10 x 10 )
26
= 0.26
100
Question 4
4.1
Managerial
level
Divisional
Qualification Section Head Departmental Head
Head
Matric 28 14 8
Diploma 20 24 6
Degree 5 10 14
Column totals 53 48 28
4.2.1
50
= 0.39
129
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4.2.5
53
=1
53
4.2.7.
6
= 0.21
28
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