Chapter 1 - What is statistics? When you have completed this chapter, you will be able to: Understand why we study statistics, explain what is meant by descriptive statistics and inferential statistics, distinguish between a qualitative variable and a quantitative variable, describe how a discrete variable is different from a continuous variable, distinguish among the nominal, ordinal, interval, and ratio levels of measurement. | Lecture Statistical techniques in business and economics (14/e): Chapter 1 - Lind, Marchal, Wathen