Exam 4: Measurement

An insurance company published their methodology for assessing customer risk based on several variables. One of these variables was a Tier category developed internally by the company. The classification method for Tier was not included in the article published. What factor would be critical if a researcher were to attempt replicating the risk assessment with data from a different insurance company?

Explain how data collection instruments, such as forms or survey questionnaires, affect the level of measurement in research. Associate the type of instrument with variable type, where possible.

A variable contains the number of traffic violations of a vehicle for the last 3 years. What type of variable is this? How would you convert it to an ordinal variable?

What are the primary factors that affect operationalization of a research concept?

The ease or difficulty in collecting data should be taken into account when operationalizing a research concept.

Bank savings account balance of customers, rounded to the nearest integer, is a nominal variable.

The data science team of a market research company is developing a statistical model to identify potential customers for a client. The model and its results will need to be explained to the marketing team of the client. Which factor influencing the operationalizing of a concept is of primary importance in this case?

What is the difference between conceptualization of a research question and its measurement?

In your own words, describe the difference between a unit of measurement and a system of measurement. Illustrate with an example.

What are the two primary characteristics of a closed-ended question in a data collection form?

The monetary currency of Japan and its exchange rate to other currencies is an example of which generic term or expression?

A Telecom company developed a model to predict customer churn. One of the variables used in the model was an internal risk score. The model development and results were published in a scholarly journal without divulging the methodology for calculating the risk score variable. Which factor influencing operationalizing of a concept needs to be taken into account by users of the model not affiliated to the Telecom company?

The number of sick days taken by employees and grouped into five ranges is a continuous variable.

Conceptualize a research question of your choice. The concept could be in any domain of your choice. Discuss the levels of measurement needed for the research question, and, the plausibility and optimum values of those levels you have chosen.

A qualitative variable may not have a measurement unit associated with the variable.

In quantitative research, what does the term "reliability" refer to?

Which of the following variable types are termed as categorical variables?

The dimensions of rooms in a residential building are measured in feet. For one room in the building, the length of the room has a value of 180. Which of the following should be considered when using this data?

A statistical model developed by a company predicts customer churn per month. What type of variable is customer churn?

The FICO credit score, with a range from 300 to 850, operationalizes the concept of credit risk or credit worthiness of a person.