Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A local bookstore is keeping a database of its customers to find out more about their spending habits and so that the store can start

A local bookstore is keeping a database of its customers to find out more about their spending habits and so that the store can start to make personal recommendations based on past purchases. The first 5 lines of the database appear in the accompanying table.

Transaction ID

Customer ID

Date

ISBN Number of Purchase

Price

Coupon?

Gift?

Quantity

29784320917

4J437

11/15/2009

345-25-2364

$35.95

N

N

1

26483689001

3K726

9/30/2009

839-80-2743

$17.99

N

N

1

26483689002

3K726

9/30/2009

110-63-2338

$9.95

Y

N

1

36429489306

3U034

12/9/2009

285-36-5892

$30.00

N

Y

1

36429489307

3U034

12/9/2009

180-44-2951

$77.95

N

Y

1

1) Describe the variable Transaction ID. Choose the correct answer below.

A. The variable Transaction ID is categorical and nominal.

B. The variable Transaction ID is an identifier variable.

C. The variable Transaction ID is quantitative, with unit counts.

D. The variable Transaction ID is categorical and ordinal.

2) Describe the variable Customer ID. Choose the correct answer below.

A. The variable Customer ID is quantitative, with units counts.

B. The variable Customer ID is categorical and ordinal.

C. The variable Customer ID is an identifier variable.

D. The variable Customer ID is categorical and nominal.

3) Describe the variable Date. Choose the correct answer below.

A. The variable Date is categorical and ordinal.

B. The variable Date is categorical and nominal.

C. The variable Date is quantitative, with unit days.

D. The variable Date is quantitative, with unit counts.

4) Describe the variable ISBN Number of Purchase. Choose the correct answer below.

A. The variable ISBN Number of Purchase is categorical and ordinal.

B. The variable ISBN Number of Purchase is quantitative, with units counts.

C. The variable ISBN Number of Purchase is categorical and nominal.

D. The variable ISBN Number of Purchase is an identifier variable.

5) Describe the variable Price. Choose the correct answer below.

A. The variable Price is an identifier variable.

B. The variable Price is categorical and ordinal.

C. The variable Price is categorical and nominal.

D. The variable Price is quantitative, with unit dollars.

6) Describe the variable Coupon. Choose the correct answer below.

A. The variable Coupon is an identifier variable.

B. The variable Coupon is categorical and nominal.

C. The variable Coupon is categorical and ordinal.

D. The variable Coupon is quantitative, with unit counts.

7) Describe the variable Gift. Choose the correct answer below.

A. The variable Gift is categorical and nominal.

B. The variable Gift is categorical and ordinal.

C. The variable Gift is an identifier variable.

D. The variable Gifts is quantitative, with units counts.

8) Describe the variable Quantity. Choose the correct answer below.

A. The variable Quantity is quantitative, with unit counts.

B. The variable Quantity is categorical and ordinal.

C. The variable Quantity is quantitative, with unit dollars.

D. The variable Quantity is categorical and nominal.

9) Are these data a time series, or are these cross-sectional? Explain Briefly. Choose the correct answer below.

A. These data are cross-sectional. There is a single variable measure at multiple points in time.

B. These data are cross-sectional. There are several variable measured at single points in time.

C. These data are a time series. There are several variables measured at single points in time.

D. These data are a time series. There is a single variable measured at multiple points in time.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fintech For Finance Professionals

Authors: David Kuo Chuen Lee, Joseph Lim, Kok Fai Phoon, Yu Wang

1st Edition

9811241864, 978-9811241864

More Books

Students also viewed these Finance questions