Question Description
I need to respond to this below in 300-400 words in APA format.
Q.1.
In similar terms to our text, qualitative variables are reported in categorical terms, such as a list of universities within a state, while quantitative are those that are numerical by nature, like the figures in a balance sheet or PNL statement.
Qualitative variables involve groupings by affiliations and what people identify with. Such the issue today of gender identity. Quantitative variables here could be the discrete number of how many people identify with a particular gender. Realistically, this quantity could potentially end up being continuous, if this trend continues. It is important, though, to note what the data set given is being used for and its manipulation goal. For, “the most sophisticated piece of quantitative research remains dependent on natural language (words), while most qualitative studies do contain some kind of quantitative information (numbers)” (Schedler, A., & Mudde, C., 2010, p. 418-419).
A quantitative variable in the real estate data would be the number of bedrooms in a given house, while a qualitative variable, there, would be the township data.
Q.2.
Upon owning a former business, many of the data sets I received regarding customer and potential client data ended up being both qualitative and quantitative that helped formulate a set of ordinal-level data for “logical” decision making through inferential statistics. The info was based on aggregate demographic material of an area. This information helped target which customer options should be offered by giving them an “accurate assessment, or [better] decision effectiveness… [which is] affected by information quality and quantity” (Keller, K., & Staelin, R., 1987, p. 200). It also revealed much to the business, such as where to head financially and helped guide mission-driven decisions.
Keller, K., & Staelin, R. (1987). Effects of Quality and Quantity of Information on Decision Effectiveness. Journal of Consumer Research, 14(2), 200-213. Retrieved from http://www.jstor.org/stable/2489411
Schedler, A., & Mudde, C. (2010). Data Usage in Quantitative Comparative Politics. Political Research Quarterly, 63(2), 417-433. Retrieved from http://www.jstor.org/stable/20721501
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