RESEARCH DIARIES: ENTRY 4: TYPES OF DATA

-

 Please visit Research Diaries (researchdiariesbypathikvariya.blogspot.com) for all the previous entries of the research diaries by Pathik B. Variya


1. Nominal Data / Nominal Scale: This type of dats is utilized to "label" a variable. In other words, it does not assign any "value" to that variable. The word "label" is critical in the sense that, here only "labeling" is done and not "quantification". For example, 1 = male, 2 = female or 1 = clerk, 2= manager, 3=engineer. So, we cannot say like 1<2 here. The dichotomous data is where only two choices are available. For example, what is your nationality 1=Indian, 2=NRI.

2. Ordinal Data / Ordinal Scale: The word "order" (say, some kind of sequence) is the heart of this type of data/scale. Here, we can say that there is an order in which, the data is sequenced. For example, gold medalist, silver medalist. But, we cannot "quantify" as to "how much" better is one over other in the sequence. For example, the gold medalist has performed better than the silver medalist. But, did the gold medalist score one mark more than the silver medalist or hundred marks more? That question cannot be answered by the ordinal data / ordinal scale. 

3. Interval Data / Interval Scale: When the "interval" (gap) between the two values is known, we can call it interval data. It is type of ordinal data / scale, but, with the addition of the fact, that we know the exact interval (gap, numerical value) between the two data sets. So, for example, the temperature reading 10 degree celsius, 20 degree celsius, 30 celsius indicate the difference between them is of "10" degree celsius. But because the interval scales do not have a true "zero"in the interval scale. So, for example, 10 degree celsius is not double the colder compared to 20 degree celsius as there is nothing like "no temperature". If you convert these to degree Fahrenheit, the answer is 10C=50F, while 20C=68F. So, to solve this problem, we have to seek the shelter of the ratio scale. So, the interval scale can also go below zero, while ratio scale would never go below zero. 

4. Ratio Data / Ratio Scale: Ratio scales take care of all the problems, that arise, with all the three above:

- Ratio data tells us about the order

- Ratio data tells us about the exact gap between two units

- Ratio data have an absolute zero

Examples are height, weight, duration. This type of data makes subtraction, addition, multiplication etc. easy. Even mean, median, mode (central tendency) can also be measured using this type of data easily. 


Popular posts from this blog

An Organizational Behaviour Case Study

-
I had developed this small caselet for OB exams some two year back. Thought it'd be a good idea to share it on the blog and have feedback of the readers! Feedback may be sent at pvariya@gmail.com ======================================================== Center for Management Studies Dharmsinh Desai University Nadiad Course: MBA Semester I Subject: Organizational Behavior Faculty Member: Pathik B. Variya A possible solution for the case study of the OB test held on September 23, 2006 Date: September 28, 2006 Dear Students, While the answer given here can serve as a model, you must not forget that answers to such cases are not scientific therefore one needs not necessarily agree with this. What I expect in the exam is the logic- how you correlate the theories and the case’ problem as described in the answer here. Question: Ajay, 23 year old, fresh MBA with HR, starts his career has a junior HR executive at Raj Manufacting House. His boss is a simple B.Com. degree holder with 4 years
Read more

Cognitive / Behavioral Biases in Investment Journey- Part - I

-
[A] Introduction: The book - 'The Psychology of Money' has a wonderful message - wealth creation is a function of both - luck and risk. One needs to be 'reasonable' to manage the risk. One should not be over rational, neither should one be too casual with their investments. It is more of an error and trial (semi scientific and semi artistic) process, where one keeps on learning with experience and try to increase the risk adjusted returns, while keeping a margin of safety. None of us is rational and emotions are all around and in us. No one can run away from them. The same emotions, pre occupations and beliefs also affect our investment decisions. In this article, we will try and explore the biases that do not allow us to take 'reasonable' decisions related to investment.  [B] What is a bias?: According to dictionary.com, " a strong feeling of favour towards or against one group of people, or on one side in an argument, often not based on fair judgement o
Read more

Training Needs Analysis and BCG Matrix - A Conceptual Write-Up

-
Image
 [A] INTRODUCTION: Training is about transfer of skills. It has its own strategic importance too. Training costs a lot too. Every penny spent (invested?) on training must be accounted for. It must generate enough ROI and must contribute substantially to the achievement of strategic objectives of the firm. I have come up with a conceptual framework (above) that tries to compare some elements of the BCG matrix to the training need identification.  Please note that not all the productivity related problems are solvable by the means of training. Employee performance has two dimensions, as you can see in the above matrix. [B] Discussion: One is "Will Do / Won't Do" (Attitude) and the other is "Can Do / Can't Do" (Skills).  Let us explore each dimension: 1. Can Do, Will Do: No actions are required for this type of employees. Such employees are like STARS of the BCG matrix! They CAN WORK and WANT TO WORK. As a manager, you are the happiest person to have these type
Read more