Q1 ASSIGNMENT 1 Total: 30 marks The Cutter Consortium surveyed 154 U.S. companies to determine the extent of their involvement in electronic commerce (e-commerce). Four of the questions they asked follow. 1. Do you have an overall e-commerce strategy? 2. If you don't already have an e-commerce plan, when will you implement one? Short term; b. Medium term or c. Long term 3. How many different product lines did you deliver over the internet in the last year? 4. What was your company's total revenue (in millions of dollars) in the last fiscal year? 2 For each of the above questions, classify the resulting variable as categorical or numerical. If numerical, state whether discrete or continuous; if categorical, state whether nominal or ordinal. [4 marks] b. Explain the difference between parameter and statistic. [2 marks] Give two examples of statistics that could be calculated from the data generated from questions 1 to 4 above. [2 marks] Q2. The Cutter Consortium has a database of the names, tax number, physical address (including state and city) and size (small, medium and large) of all the 2500 companies of interest. A researcher from the consortium intends to visit the head office of a sample of companies, and conduct face-to-face interviews. Explain how you would select a sample of 100 companies using the following schemes: Simple random sample [3 marks] ii. Stratified sample having company sizes as strata. [3 marks] b. If some of the companies you randomly selected refused to be interviewed, how would that be a problem? [2 marks]