Explain the difference between nominal and ordinal data

Assignment Help Operation Management

Reference no: EM132296347

Big D Incorporated has a business opportunity to provide two different types of information to a new client. As the Business Analyst, you are tasked to assess the financial feasibility of this opportunity. The new client is a retailer and looking to expand their product offerings. However, they are requesting Big D Incorporated to assist in the decision-making process.

Prepare a presentation that addresses the following:

List at least 3 qualitative attributes of outdoor sporting goods about which they might want to ask consumers. Make sure at least 1 of them is nominal.

For each attribute that is ordinal, assign names for the endpoints of a 5 point rating scale.

Explain the difference between nominal and ordinal data.

Explain how nominal and ordinal data relate to a rating scale.

List at least 2 quantitative attributes of outdoor sporting goods that market researchers might want to measure.

Explain the difference between interval and ratio data.

Include in your presentation the difference between a population and a sample. Do not forget about the target market.

Note why it is important to avoid bias when conducting research (see note below).

Note: Give 2 examples of possible populations for this test.

Reference no: EM132296347

Questions Cloud

How can charismatic leaders motivate low employee turnover : How can charismatic leaders motivate low employee turnover? Please explain.

Organizational commitment through motivation : How can charismatic leaders create organizational commitment through motivation? Please explain.

Write a program and flowchart using given information : Write a program and flowchart. The program should ask the user for the average temperature in each of the last 12 months. After the user has entered.

What characteristics of attacks caused fundamental changes : Write a 2-3 page paper that addresses the question: What characteristics of the Sept 11, 2001 attacks caused fundamental changes in disaster recovery.

Explain the difference between nominal and ordinal data : Explain the difference between nominal and ordinal data. Explain how nominal and ordinal data relate to a rating scale.

Analyze their training and career development needs : Need to ensure you have gathered appropriate information about the organization and the trainee(s) to analyze their training and/or career development needs.

Describe the problems united airlines : Describe the problems United Airlines is having that can be solved or minimized with techniques and ideas that relate to organizational behavior

What is transformational leadership : What is transformational leadership? Research and report on a current LIVING BUSINESS leader that you consider to be transformational.

Difference between franchising and licensing : What is the difference between franchising and licensing?

User Account

All Pages