If You Wanted to Compute the Correlation Between Two Nominal-Level

question 55

Multiple Choice

If you wanted to compute the correlation between two nominal-level variables,which type of correlation should you use?

• A)point biserial
• B)phi
• C)Spearman rank
• D)Pearson

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Definitions:

Innovation Spreads

The process by which a new idea, product, or method is accepted and adopted by the market or society.

Market Group

A set of consumers or businesses with similar needs or characteristics that a company aims to serve.

Categories of Adopters

Groups into which consumers can be segmented based on their readiness and speed to adopt a new product or innovation.

Product Life Cycle

The course of a product's sales and profits over its lifetime, typically divided into introduction, growth, maturity, and decline phases.