Sue Is Converting Scale Data to Ordinal Rankings

question 88

Multiple Choice

Sue is converting scale data to ordinal rankings.She has organized the data from highest to lowest but does not know what to do with two data points that have the same value of 12.8.The two scores would hold the 5th and 6th ranks.What should she do?

• A) Randomly assign one value to the rank of 5 and the other to 6.
• B) Assign whichever is first on the list to the rank of 5 and the other to the rank of 6.
• C) Use a rank of 5.5 for both.
• D) Use a rank of 5 for both.

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Definitions:

Inventory Count

The physical verification of the quantities and condition of items held in inventory, typically conducted periodically.

Gross Profit Method

An inventory estimation technique that calculates the cost of goods sold to estimate the ending inventory balance.

Purchase Returns

Purchase returns involve goods sent back to the supplier, usually due to defects, inaccuracies, or dissatisfaction, resulting in a refund or credit.

Ending Inventory

The final value of goods available for sale at the end of an accounting period after all purchases and sales have occurred.