With Interval Data, There Must Be an Absolute Zero Point

question 151

True/False

With interval data, there must be an absolute zero point.

---

Definitions:

Utility Function

A utility function is an economic model representing a consumer's preference ranking for various bundles of goods or services, quantifying satisfaction levels.

Probability

The measure of the likelihood that an event will occur, expressed as a number between 0 and 1.

Wealth

The accumulation of valuable resources and possessions, which can include money, properties, and investments.

Risk Averse

The characteristic of preferring to avoid risk, where an individual or entity would choose a certain outcome over a gamble with a potentially higher, but uncertain, payoff.