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vredina [299]
4 years ago
12

2. Identify the type of scale of measurement (nominal, ordinal, interval or ratio) appropriate for each of the following types o

f data.
a. Star ratings of hotels

b. Sales revenues of companies

c. Grades of officers in armed forces

d. House numbers in a street

e. Prices of cars

f. Classes of accommodation on passenger flights

g. Passport numbers

h. Numbers in a rating scale on a questionnaire

i. Index numbers

​
Business
1 answer:
nevsk [136]4 years ago
7 0

Answer: Please refer to Explanation

Explanation:

A Nominal Scale is a scale where variables are grouped and categorized according to certain characteristics. You cannot perform normal mathematical functions on them such as addition, subtraction and the like.

Ordinal Scales are like nominal scale but in this case the variables can be ranked. You can have a first position and a last position.

An Interval scale is numeric and as such can be ordered. You can also perform mathematical functions on them. Interval scales have no true zero and an example is Temperature. That's why temperature can drop to the negatives.

A Ratio Scale is in many ways like an Interval Scale. The main distinguishing factor is that a Ratio Scale has a true 0. This means that at there is no number before 0 and at 0 level, the variable is considered finished.

Classifying the above therefore,

a. Star ratings of hotels.

ORDINAL because they can be ranked.

b. Sales revenues of companies.

RATIO because there is a true 0. At $0, there is no revenue.

c. Grades of officers in armed forces.

ORDINAL as it can be ranked.

d. House numbers in a street.

NOMINAL as the street numbers don't mean a house is higher ranked than another.

e. Prices of cars.

RATIO as there is a true zero. A car at $0 is free. Price cannot be below $0.

f. Classes of accommodation on passenger flights.

ORDINAL as it can be ranked according to treatment in the various classes.

g. Passport numbers.

NOMINAL as the different passport numbers are simply used for identification and cannot rank people.

h. Numbers in a rating scale on a questionnaire.

ORDINAL because the variables can be ranked from top to bottom.

i. Index numbers.

ORDINAL if the index can be ranked.

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8 0
3 years ago
Suppose that the duopolists Carl and Simon face an inverse demand function for pumpkins of P = 400 - Q, where Q = Qs + Qc is the
Usimov [2.4K]

Answer:

the Cournot-Nash equilibrium, Simon's production is 82 units

Explanation:

The Cournot-Nash Equilibrium for  Simon's production is calculated as follows:

P = 400 - Q \\ \\ Q = Q_s + Q_c

Reaction function of Carl is as follows:

Carl maximize profit at HR_c = HC_c

TR_c = P*Q_c

TR_c = (400 -Q_s -Q_c)Q_c

TR_c = 400Q_c -Q_sQ_c -Q_c^2

⇒ HR_c = \delta TR_c/ \delta Q_c

HR_c =400 -Q_s -2 Q_c

C_c = 30 Q_c + Q_c^2

⇒ HC_c = \delta C_c/ \delta Q_c

HC_c =30+2Q_c

Set HR_c = HC_c

400 - Q_s - 2 Q_c = 30 - 2Q_c  \\ \\ 400 - Q_s -30 = 2Q_c + 2Q_c \\\\(370 Q_s) = 4 Q_c \\ \\ Q_c = (370-Q_s)/4 \\ \\ Q_c = 92.5 - 0.25 Q_s \to Reaction \ function \ of \ Carl --- equation (1)

Reaction function of Simon

Since Simon maximize profit  at HR_s = HC_s

TR_s = PQ_s \\ \\ TR_s = (400-Q_c -Q_s)Q_s \\ \\ TR_s = 400 Q_s - Q_cQ_s - Q_s^2

HR_s = \delta TR_s/ \delta Q_s

HR_s =400 - Q_c -2Q_s

C_s = Q_s^2

HC_s= \delta C_s/ \delta Q_s

HC_s=2Q_s

Set HR_s = HC_s

400- Q_c - 2Q_s = 2Q_s \\ \\ 400 - Q_c = 2Q_s+2Q_s \\ \\ 4Q_s = 400 - Q_c \\ \\ Q_s = (4000- Q_c)/4 \\ \\ Q_s = 100 -0.25 Q_c  ---  Reaction \ function \ of \ Simon \ -- equation (2)

Substituting equation (1) into equation (2)

Q_s =100 -0.25Q_c \\ \\ Q_s = 100 - 0.25(92.5-0.25 Q_s) \\ \\ Q_s = 100 -23.125 +0.0625Q_s  \\ \\ (Q_s-0.0625Q_s) = 76.375 \\ \\ 0.9375 Q_s = 76.875 \\ \\ Q_s = 76.375/0.9375 \\ \\ Q_s = 82

Thus; the Cournot-Nash equilibrium, Simon's production is 82 units

3 0
3 years ago
Which of the following is true of packaging and labeling?a) An advantage of packaging is the low cost required for the process.b
julsineya [31]

Answer: Option B

Explanation: Packaging is the process of protecting the product so that its distribution and sales could be done easily and effectively. Apart from protection, the packaging of a product enhances its value and give it distinct feature over other product.

Labeling refers to the process of describing something using a word, phrase or sometimes even a picture.

Both packaging and labeling gives an identity to the product. It gives the idea to the customer of the company making such product, this further results in brand loyalty from the customers, thus, a stronger customer base.

From the above we can conclude that the correct option is B.

 

4 0
3 years ago
The narrative pattern of organization is particularly effective when addressing a sympathetic audience.
aalyn [17]
It is true that the narrative pattern of organization is particularly effective when addressing a sympathetic audience.
The narrative pattern refers to the fact that you are organizing your speech or writing around a particular story that you want to tell. You want your audience to perhaps learn something from your story, to get your message, and it will be particularly successful if your audience is a sympathetic one.

7 0
3 years ago
Type the correct answer in the box.
Burka [1]

Answer: Secondary source of market research (external source)

Explanation: when an individual makes use of public information which have been collected by others in his or her research, such source is refered to as a secondary source. It is also called eternal source in market research, this can be gotten from company's websites, market research reports, trade publications etc. All this information can easily be accessible using the internet at small to no cost at all.

So Jamie made use of secondary source (external source) in his market research assignment.

8 0
3 years ago
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