Both Ordinal and Nominal Variables Are Categorical

question 19

True/False

Both ordinal and nominal variables are categorical.

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Definitions:

Offeror

The party in a contractual agreement who proposes the terms of the contract to the offeree for acceptance.

Binding Contract

An agreement that is legally enforceable, with clearly defined obligations and rights for all parties involved.

Outdated

Refers to information, technology, or methods that are no longer current or effective due to newer alternatives or advancements.

Formal Contracts

Formal contracts are legally binding agreements that must follow a prescribed format or be executed in a certain manner to be valid, such as being in writing and signed by all parties.