The Issue of Which Scale of Measurement Has Been Used

question 22

Multiple Choice

The issue of which scale of measurement has been used largely determines

• A) which statistical tests can be used
• B) whether the statistics are descriptive or inferential
• C) whether the statistics are inferential or predictive
• D) whether the data have been "rigged" or "faked"

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Definitions:

Fed

The Federal Reserve System, which is the central banking system of the United States, responsible for monetary policy and financial regulation.

GDP

Gross Domestic Product, the total value of all final goods and services produced within a country in a given period of time.

Tax Cuts

A reduction in the amount of taxes imposed by a government on individuals or businesses.

Monetary Policy

The process by which a central bank, currency board, or monetary authority controls the supply of money, or trading in foreign exchange markets.