The Following Information Regarding a Sample of Seven Students Is

question 21

Short Answer

The following information regarding a sample of seven students is provided.
Student Identification Grade Point Classification Gender Rank in
Number Average Class
Adam 1234 2.89 Senior Male 15
Brandon 8978 2.01 Junior Male 25
Jason 6578 3.97 Freshman Male 3
Marissa 2345 3.98 Sophomore Female 2
Michelle 8901 2.67 Senior Female 18
Wendy 7789 4.00 Senior Female 1
Webster 6780 3.77 Freshman Male 4
a. How many elements are in the above data set?
b. How many variables are in this data set?
c. How many observations are in this data set?
d. Which variables are categorical and which are quantitative variables?
e. What measurement scale is used for each variable?

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Definitions:

Marginal External Cost

The additional cost imposed on society that is not accounted for by the producer as output increases.

Marginal Social Cost

The cost to society of producing one additional unit of a good or service, including both the private costs and any external costs.

Oil Refinement

The process of transforming crude oil into useful products like gasoline, diesel, and jet fuel through various physical and chemical treatments.

Pollution Fee

A financial charge applied to entities that emit pollutants, intended to discourage environmental pollution by making it economically costly.