Have a few questions needed to be answered. The first question I will display the original question then I will show my answer. I will need help with the follow-up to my answer which I will bold. I will also list two more questions I need answers for.

Original Question:

Provide some examples of discrete and continuous variables. What attributes of these variables make them discrete and continuous? Why?

My Answer:

A variable is any characteristics, number or quantity that can be measured or counted and is also referred as data item. Variables are categorized in two types according to the level of measurement.

1. Discrete variables refers to the variables with a well defined finite set of possible values called states. Discrete variables are also referred as qualitative variables. For example, the number of the people in football team or the total number of planets in the solar system.
2. Continuous variables refers to the variables which can take the value between any other two values. For example, the height and age of the person can be any real value within the reasonable limits. Some other examples of this category are temperature of the room, water consumed, etc. The continuous variable can be interval scale variables, continuous ordinal variables or ratio scale variables in nature.

Thus, the main difference between continuous and discrete variables is that continuous variable can take any real numerical value within the reasonable limits, the value of height, time and age are included in this category, on the other hand, discrete variables will only have the values that are whole numbers like number of business locations, number of children in family, etc.

Follow-up Question:

You have correctly defined and presented good examples. The continuous variables take on the values from infinite scale, anything dealing with time, space and volume is often a continuous variable. What would be an example of continuous variable which can be measured as ratio scale?

Question 2:

• Yourinstructorgivesyoua"popquiz"consistingof10true-falsequestionsduringthefirstweekofclass.Unfortunately,youneitherattendedanypreviousclasses,norreadthetextbook(acommonoccurrence).Youdecide,however,totakethequizandjustguessattheanswertoeachquestion.Theinstructorannouncesthatsixormorecorrectanswersareneededtopassthequiz.Foreachquestion,whatistheprobabilityyouwillguessthecorrectanswer?Whatisyourchanceofpassingthequiz?Howdidyoufigurethisout?

Question 3:

Describe the differences between discrete and continuous (normal) probability distributions. What are some business-related examples that make use of discrete and continuous (normal) probability distributions?