Which of the Following Is True of Ordinal Data

question 19

Multiple Choice

Which of the following is true of ordinal data?

• A)Ordinal data have no fixed units of measurement.
• B)Ordinal data can be interpreted in the form of ratios.
• C)Ordinal data allows meaningful comparison of ranges,averages,and other statistics.
• D)Ordinal data is the strongest form of measurement.

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Definitions:

Cartel

A coalition of producers or vendors aimed at keeping prices elevated by limiting competitive practices.

Concentration Ratio

Concentration ratio is a measure of the total output produced in an industry by a given number of firms, indicating the level of market competition.

Sales

The activities involved in selling goods or services to consumers or other businesses, generating revenue.

Concentration Ratio

A measure of the total output produced in an industry by a given number of firms, used to assess the level of market concentration and competition.