Statistical Tests Designed to Handle Interval Data, May Also Be

question 109

Multiple Choice

Statistical tests designed to handle interval data, may also be used on

• A) nominal data
• B) ordinal data
• C) ratio data
• D) a test designed for interval data cannot handle data of any other type

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Definitions:

Interest Rate

The percentage of a sum of money charged for its use, often expressed on an annual basis.

Payment

The transfer of money or goods from one party to another in exchange for goods, services, or to fulfill a legal obligation.

Present Value

The contemporary valuation of future financial sums or sequences of cash flow, when factoring in a specific rate of return.

Interest Rate

The portion of a loan assessed as interest to the borrower, typically described as an annual rate of the loan's remaining balance.