Answer:
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Step-by-step explanation:
We know that :
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From the Figure :
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Only 1st Statement is True
1st Option is the Answer
The variable is Quantitative, has Interval level of measurement.
Variables which can be quantified & expressed numerically are Quantitative variables. Eg : as given , price
Variables which cant be qualified & expressed numerically are Qualitative variables. Eg : level of honesty, loyalty etc
Nominal & Ordinal are qualitative variables : signifying yes or no to a category (like men or women) , or ranks (x better than y) respectively. So price level is not such categorical & ordinal ratio.
Quantitative ratio variables are with reference to time , or are in forms of rate (like speed , growth per year). So, price level is not such ratio variable also.
Price is a quantitative variable, in which the ranking, its difference can be calculated. This is characteristic of a <u>Quantitative Interval Variable</u>.
To determine how far away Oscars grandpa lives you would need to divide 50 by 6. 50/6= 8 and 1 third, or 8.33