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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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Foster, who owns a successful business with two locations and a few international clients, was approached by a large organizatio
Nadusha1986 [10]

Clearer question;

Tom, who owns a successful business with two locations and a few international clients, was approached by a large organization about dramatically expanding his company. Tom later told his wife that he is happy with his success, but he wants to stay small because if he decides to add new products, small companies ____.

Answer:

<u>3. can get started more easily and maneuver faster</u>

Explanation:

Remember, a small company is officially viewed as one having less than 500 employees.

So, Tom's business qualifies as such, and it is quite true to a large degree that small companies can get started more easily and maneuver faster since they require less staff management.

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3 years ago
Indicate the effect of each of the following transactions on total assets, total liabilities, and total stockholdersâ equity. Se
Scorpion4ik [409]

Answer:

Transaction                       Assets            Liabilities        Stockholders' Equity

Issue common stock           Increase               NE                      Increase

Issue preferred stock         Increase               NE                      Increase  Purchase treasury stock     Decrease             NE                       Decrease

Sale of treasury stock         Increase              NE                        Increase  Declare cash dividend            NE                   Increase                   NE

Pay cash dividend               Decrease            Decrease NE

100% stock dividend              NE                        NE                      NE

2-for-1 stock split                    NE                       NE                         NE

When shares are sold or issued, they increase the stockholders equity as people buy these shares. They also increase assets because cash comes into the company when the shares are sold. This is why the Issuing of preference and common stock as well as the sale of Treasury shares had the same effects.

When cash dividends are declared, they become a liability that is owed to equity holders.

When these dividends are then paid, they remove the liability but reduce assets as cash is used to pay the dividends.

100% stock dividend reduces retained earnings but increases equity so stockholders equity does not change.

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Answer:

where manufacturing involves a single, homogeneous product that flows evenly through the production process on a continuous basis.

Explanation:

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It should be noted that process costing system is employed in those situations where where manufacturing involves a single, homogeneous product that flows evenly through the production process on a continuous basis.

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What is the impact on the accounting equation when an accounts receivable is collected?
Alinara [238K]
DONT TRUST THAT LINK! IT IS USED TO STEAL PERSONAL INFORMATION! Report any links people give you.

Answer for your question!

Because one asset increases and another decreases by the same amount, the accounting equation remains unchanged and in balance, suggests Principles of Accounting. For example, if you collect $100 from an account receivable, cash increases by $100 and accounts receivable decreases by $100.
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