Quantitative variables take the form of numerical figures. Qualitative variables describe data by placing them into broad categories. For example, the number of units that your business sells over a ...

A two-valued qualitative variable can be represented by a single 0-or-1-valued "dummy" variable. If a qualitative variable has three or more possible values (e.g., make-of-car, or marital-status), ...

At times it is desirable to have independent variables in the model that are qualitative rather than quantitative. This is easily handled in a regression framework. Regression uses qualitative ...

Quantitative business research focuses on quantifying behaviours, opinions, trends, and other variables by collecting and analysing measurable, numerical data. It answers questions related to “how ...

Qualitative data captures information and concepts that cannot be easily described by numbers, to better understand a phenomenon of interest from different perspectives. This data may include people's ...