A start-up company built a database of customers and sales information. For each customer, it recorded the customer's name, zip code, region of the country (East, South, Midwest, West), date of last purchase, amount of purchase (in dollars), and item purchased. (a) Identify whether the data are cross sectional or a time series. (b) Give a name to each variable and indicate if the variable is categorical, ordinal, or numerical (if a variable is numerical, include its units if possible). (c) List any concerns that you might have for the accuracy of the data.

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Business

Amaris Esparza

Today, 17:40

A start-up company built a database of customers and sales information. For each customer, it recorded the customer's name, zip code, region of the country (East, South, Midwest, West), date of last purchase, amount of purchase (in dollars), and item purchased. (a) Identify whether the data are cross sectional or a time series. (b) Give a name to each variable and indicate if the variable is categorical, ordinal, or numerical (if a variable is numerical, include its units if possible). (c) List any concerns that you might have for the accuracy of the data.

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Delgado · Answer 1

(a) The data is cross-sectional.

(b) Name, ZIP, Region = Categorical variable

Last Purchase Date = Ordinal variable

Amount of purchase = Numerical / Dollars

Items Purchased = Categorical variable

(C) The zip code (and presumably the region as well) depends on the honesty of the customer and on the effectiveness of the customer.