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Chapter 1: Q6. (page 49)
Explain the difference between quantitative and qualitative data?
The main difference between quantitative and qualitative data is that the former is represented by numbers while later is represented by a name, code, or any other attribute such as a symbol.
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What is a representative sample? What is its value?
Guilt in decision making. The effect of guilt emotion on how a decision maker focuses on the problem was investigated in the Journal of Behavioral Decision Making (January 2007). A total of 171 volunteer students participated in the experiment, where each was randomly assigned to one of three emotional states (guilt, anger, or neutral) through a reading/writing task. Immediately after the task, the students were presented with a decision problem (e.g., whether or not to spend money on repairing a very old car). The researchers found that a higher proportion of students in the guilty-state group chose to repair the car than those in the neutral-state and anger-state groups.
a. Identify the population, sample, and variables measured for this study.
b. Identify the data-collection method used.
c. What inference was made by the researcher?
d. In later chapters you will learn that the reliability of an inference is related to the size of the sample used. In addition to sample size, what factors might affect the reliability of the inference drawn in this study?
Explain why would a statistician consider an inference incomplete without an accompanying measure of its reliability?
The 鈥渓ucky store effect鈥� in lottery ticket sales. In the American Economic Review (Vol. 98, 2008), University of Chicago researchers investigated the lucky store effect theory in lottery ticket sales, i.e., the theory that a lottery retail store that sold a large-prize-winning ticket will experience greater ticket sales the following week. The researchers examined the weekly ticket sales of all 24,400 active lottery retailers in Texas. The analysis showed that 鈥渢he week following the sale of [a winning Lotto Texas ticket], the winning store experiences a 12 to 38 percent relative sales increase. . . . 鈥� Consequently, the researchers project that future winning lottery retail stores will experience the lucky store effect. Is this study an example of descriptive statistics or inferential statistics? Explain.
Customer orders at a department store. A department store receives customer orders through its call center and website. These orders, as well as any special orders received in the stores are forwarded to a distribution center where workers pull the items on the orders from inventory, pack them, and prepare the necessary paperwork for the shipping company that will pick up the packages and deliver them to the customers. In order to monitor the subprocess of pulling the items from inventory, one order is checked every 15 minutes to determine whether the worker has pulled the correct item.
a. Identify the process of interest.
b. Identify the variable of interest. Is it quantitative or qualitative?
c. Describe the sample.
d. Describe the inference of interest.
e. How likely is the sample to be representative?
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