Categorial variable - Study guides, Class notes & Summaries

Individuals Objects described by a set of data, Can be people or animals or things Variable Characteristics of an individual. Can take diff values for diff individuals Categorial Variable Place an individual into one or several groups or categories ie. quantities Quantitative Variable Takes # of values so that it can be used for averages/means. Usually recorded with unit of measurement Distribution of a Variable - Tells what values it takes and how often - Values are labels for categori...

Analytics is a broad term that refers to a variety of tools that inform managerial decisions. Which term can be used to describe managerial decisions? Correct Answer Prescriptive What are two reasons for increasing the use of analytics in organizational decision making? Correct Answer 1. Relatively lower cost of computer storage 2. Higher computer processing power How does probability theory inform decision making for managers? Correct Answer By quantifying risk Which type of data are ...

Analytics is a broad term that refers to a variety of tools that inform managerial decisions. Which term can be used to describe managerial decisions? correct answers Prescriptive What are two reasons for increasing the use of analytics in organizational decision making? correct answers 1. Relatively lower cost of computer storage 2. Higher computer processing power How does probability theory inform decision making for managers? correct answers By quantifying risk Which type ...