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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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I think it is 180 :)
5 0
3 years ago
Schaad corporation has entered into an eight-year lease for a piece of equipment. the annual payment under the lease will be $2,
SOVA2 [1]

If the discount rate of the eight-year lease for a piece of equipment entered by Schaad Corporation is 14% with an annual lease payment of $2,500, the present value of the lease payments is <u>$13,220.76.</u>

<h3>How is the present value of lease payments determined?</h3>

The present value (PV) of lease payments can be determined by computing the discount factor of 14% for 8 years and multiplying it with the annual lease payment.

The present value can also be computed using the PV table or the PV formula.

However, for this exercise, we have used an online finance calculator to determine the PV as follows:

<h3>Data and Calculations:</h3>

N (# of periods) = 8 years

I/Y (Interest per year) = 14%

PMT (Periodic Payment) = $2,500

FV (Future Value) = $0

Results:

PV = $13,220.76

Sum of all periodic payments = $20,000 ($2,500 x 8)

Total Interest = $6,779.24

Thus, if the discount rate of the eight-year lease for a piece of equipment entered by Schaad Corporation is 14% with an annual lease payment of $2,500, the present value of the lease payments is <u>$13,220.76.</u>

<u></u>

Learn more about the present values of lease payments at brainly.com/question/27136543

6 0
3 years ago
Which of the following statements is FALSE of consumer dissatisfaction?a. It is a mild emotion that does not create relatively s
Hatshy [7]

Answer:

a. It is a mild emotion that does not create relatively strong behavioral reactions.

Explanation:

The statement that is false is that consumer dissatisfaction it is a mild emotion that does not create relatively strong behavioral reactions as when customers are not happy about a product or service they purchased, they have strong feelings about it because they tend to think that they paid for something that is not what they expected and they can experiment many feelings like anger, sadness and that they were deceived and even robbed which can lead to make claims to the company involved demanding a compensation.

5 0
3 years ago
uring a recession, which of the following is true? A. Consumer staple stocks rise on expectations that consumers will continue t
alexandr1967 [171]

Answer:

A. Consumer staple stocks rise on expectations that consumers will continue to spend on necessities.

Explanation:

Recession refers to the contraction which occurs in the business cycle when the economic activities experience a decline. When the economy experiences a decline for at least six months, a recession occurs. During the period of recession, because of unemployment, the rate of growth decreases. The consumers stop to spend which affects the economy of the business.

7 0
4 years ago
What is the overall change in cash resulting from: $248 increase in inventories, $186 increase in accounts payable, $139 decreas
solniwko [45]

Answer:

An increase of $54

Explanation:

Any increase in current assets will decrease in cash. On the other hand, any decrease in current assets will increase cash balance.

Inversely, any increase in current liabilities will increase cash and any decrease in current liabilities will decrease cash balance of the period.

Increase in inventories ($248)

Increase in accounts payable $186

Decrease in accounts receivable $139

Decrease in other current asset $61

Decrease in other current liabilities ($84)

Total change $54 - an increase in cash

3 0
3 years ago
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