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Do You Think Making Products or Components In-House Can Be

question 44

Essay

Do you think making products or components in-house can be disadvantageous to a firm? Give reasons to support your answer.


Definitions:

Interval Level Variables

Interval level variables are a type of quantitative data where the intervals between values are meaningful, but the data lack a true zero point, allowing for the measurement of difference but not ratio.

Ratio Level Variables

Variables that have a true zero point and can be compared in terms of multiples.

Categorical

Pertaining to data or variables that represent categories, qualities, or characteristics without inherent numerical value.

Nominal

Refers to data that can be categorized into named groups that do not imply any rank or order among them.

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