1.21 Three professors at Northern Kentucky University
compared two different approaches to teaching courses in
the school of business (M. W. Ford, D. W. Kent, and S.
Devoto, “Learning from the Pros: Influence of Web-Based
Expert Commentary on Vicarious Learning about Financial
Markets,” Decision Sciences Journal of Innovative
Education, January 2007, 5(1), 43–63). At the time of the
study, there were 2,100 students in the business school and
96 students were involved in the study. Demographic data
collected on these 96 students included class (freshman,
sophomore, junior, senior), age, gender, and major.
a. Describe the population of interest.
b. Describe the sample that was collected.
c. For each of the four demographic variables mentioned
above, indicate if they are categorical or numerical.
a. The population of interest in this study is the entire student body of the business school at Northern Kentucky University. This includes all 2,100 students enrolled in the business school at the time of the study.
b. The sample that was collected consists of 96 students from the population of interest. These 96 students were selected to participate in the study.
c. The four demographic variables mentioned are:
- Class: This is a categorical variable as it represents different categories (freshman, sophomore, junior, senior) that the students can belong to.
- Age: This is a numerical variable as it represents the age of the students.
- Gender: This is a categorical variable as it represents different categories (male, female) that the students can belong to.
- Major: This is a categorical variable as it represents different categories (such as finance, marketing, accounting) that the students can belong to.