Question

1. Data set basics - Elements, variables, observations, measurements, and data types

1. Data set basics Elements, variables, observations, measurements, and data types Aa Aa Students in a business statistics class developed a pricing model for diamond stones. The top and bottom portions of the data set that the students collected are reproduced below; dots indicate that the intervening rows in the data set are not displayed. (Source: Singfat Chu, "Pricing the C's of Diamond Stones," Journal of Statistics Education, Vol. 9, No. 2 Duly 2001]) Diamond ID Price (Singapore ds Weight (Carats) Color Clarity Certification Body 8,873 3,635 11,696 8,095 3,501 1.01 0.52 VS1 Wsi vs1 VWS2 0.5 304 305 306 307 308 4,401 2,942 3,706 1,555 1,098 0.63 0.46 0.55 0.31 0.33 VWS2 WS2 Ws2 vs1 Note that color purity is a desirable characteristic of a diamond, and a grade of D indicates top color purity. A diamond graded E has less color purity than a diamond graded D, a diamond graded F has less color purity thana diamond graded E, and so on. Clarity is also a desirable characteristic. The top clarity rating is IF (internally flawless); other darity ratings, in descending order, are S1, VVS2, VS1, and VS2. VVS is the notation for "very very slightly imperfect" and VS is shorthand for "very slightly imperfect.") Certification Body has three different values, which are coded as 1 = Gemmological Institute of America, 2 = International Gemmological Institute, and 3 -HRD Antwerp. Complete the table below to indicate the number of elements, variables, observations, and data values that are included in the complete data set. Data Set Term Elements Variables Observations How Many? Which variables in the data set are quantitative?

Answer 1

The number of elements is 308 Since there are 308 diamond Ids. The number of variables is 5. Since there are 5 categories. The number of observations is 308. Since there are 308 observations in each category. Measurements are 3. There are 3 types of measurements such as nominal, ordinal and ratio. The quantitative variables are Price and Weight.