TABLE 1-1 The Manager of the Customer Service Division of a Major

question 23

Multiple Choice

TABLE 1-1
The manager of the customer service division of a major consumer electronics company is interested in determining whether the customers who have purchased a Blu-ray player made by the company over the past 12 months are satisfied with their products.
-Referring to Table 1-1,the possible responses to the question "How would you rate the quality of your purchase experience with 1 = excellent,2 = good,3 = decent,4 = poor,5 = terrible?" are values from a

• A)discrete numerical variable.
• B)continuous numerical variable.
• C)categorical variable.
• D)table of random numbers.

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Definitions:

Binding

In economic terms, refers to a price floor or ceiling that is enforced and has an effect on the market, preventing it from reaching equilibrium.

Price Ceiling

A legally established maximum price for a good or service, aimed at preventing prices from rising too high.

Crude Oil

A natural petroleum product that's extracted from the earth, unrefined, and used as a primary feedstock for fuel and various chemical productions.

OPEC

The Organization of the Petroleum Exporting Countries, an intergovernmental organization aimed at coordinating and unifying petroleum policies among its member countries.