If Both the Independent and Dependent Variables Are ______ Level

question 23

Multiple Choice

If both the independent and dependent variables are ______ level, then ordinary least squares (OLS) regression would most likely be applied.

• A) nominal
• B) ordinal
• C) ratio
• D) interval

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Definitions:

Crude Oil

A naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials, used as a primary energy source.

Consumer Surplus

The dissimilarity between what consumers can potentially spend on a product or service and the sum they truly pay.

Domestic Producers

Domestic producers are businesses or individuals that create or manufacture goods and services within a country's borders.

Crude Oil

A naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials, used as a raw material for fuel and in the petrochemical industry.