ec-7 - 1. A hierarchy is essentially a system that ranks...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
1. A hierarchy is essentially a system that ranks people or things in a certain order. Data is really only useful when it is arranged into some type of order or rank, so a hierarchy is crucial when attempting to interpret a set of data. 2. If the quantitative variable can hold any value in an interval and is one of the infinitely many possible values, it is continuous. If the variable is a distinct value in an interval of countable possibilities, it is discrete. A value cannot be simultaneously continuous and discrete. 3. The most important factors in obtaining a good sample are ensuring randomness and eliminating bias. Using random number tables or generators are helpful in making sure the sample is properly random. Other methods such as convenience and judgment sampling can introduce bias into the sample and will result in nonrandomness. Another important aspect is to determine a correct sample size for the data. A sample that is too large or too small can lead to complications. Finally, beware of easily overlooked errors
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/19/2011 for the course ECON 200 taught by Professor Staff during the Winter '09 term at Indiana.

Ask a homework question - tutors are online