ESSENTIAL STATISTICS IN BUSINESS AND
ECONOMICS 3RD EDITION DOANE
SCRIPT COMPLETE QUESTIONS AND
CORRECT ANSWERS GRADED A+
◉ Ratio Scale (1)
Answer: The scale of measurement for a variable if the data
demonstrate all the properties of interval data and the ratio of
two values is meaningful. Ratio data are always numeric. Variables
such as distance, height, weight, and time use the ratio scale of
measurement. This scale requires that a zero value be included to
indicate that nothing exists for the variable at the zero point.
◉ Categorical Data (1)
Answer: Labels or names used to identify an attribute of each
element. Categorical data use either the nominal or ordinal scale
of measurement and may be nonnumeric or numeric.
◉ Quantitative Data (1)
Answer: Numeric values that indicate how much or how many of
something. Quantitive data are obtained using either the interval
or ratio scale of measurement.
◉ Categorical Variable (1)
Answer: A variable with categorical data.
ECONOMICS 3RD EDITION DOANE
SCRIPT COMPLETE QUESTIONS AND
CORRECT ANSWERS GRADED A+
◉ Ratio Scale (1)
Answer: The scale of measurement for a variable if the data
demonstrate all the properties of interval data and the ratio of
two values is meaningful. Ratio data are always numeric. Variables
such as distance, height, weight, and time use the ratio scale of
measurement. This scale requires that a zero value be included to
indicate that nothing exists for the variable at the zero point.
◉ Categorical Data (1)
Answer: Labels or names used to identify an attribute of each
element. Categorical data use either the nominal or ordinal scale
of measurement and may be nonnumeric or numeric.
◉ Quantitative Data (1)
Answer: Numeric values that indicate how much or how many of
something. Quantitive data are obtained using either the interval
or ratio scale of measurement.
◉ Categorical Variable (1)
Answer: A variable with categorical data.
