Explain the difference between variables,measurement,and data.

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The Answer is Most business statistics studies contain variables,measurements,and data.A variable is a characteristic of any entity being studied that is capable of taking on different values.Examples of variables might include monthly household food spending,time between arrivals at a restaurant,and patient satisfaction rating.A measurement is when a standard process is used to assign numbers to particular attributes or characteristics of a variable.Measurements of monthly household food spending might be taken in dollars,time between arrivals might be measured in minutes,and patient satisfaction might be measured using a 5-point scale.Data are recorded measurements.It is data that are analyzed by business statisticians in order to learn more about the variables being studied.

Explain the Difference Between Variables,measurement,and Data