QUESTION 1:

In the class lecture, we discussed 4 principal types of data: nominal, ordinal, interval, and ratio. We said this listing runs from least-powerful to most-powerful. There are times, however, when an analyst will take high-quality ratio data and "dumb it down" to nominal or ordinal. What would cause an analyst to do this?

QUESTION 2:

In the class lecture, we discussed the evolution in thought from the "Victorian View" of the universe being deterministic to the current view of the universe being stochastic. Can you give an example from everyday life of what is meant by the stochastic view?

QUESTION 3:

How would you concisely explain the difference between descriptive and inferential statistics to someone with very little statistical knowledge?