Nominal Data

question 37

Multiple Choice

Nominal data:

• A) are ranked according to some relationship to one another.
• B) have constant differences between observations.
• C) are continuous and have a natural zero.
• D) are sorted into categories according to specified characteristics.

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Definitions:

Cost of Goods Sold

The direct costs attributable to goods produced and sold, including materials, labor, and manufacturing expenses.

Service Provider

An entity that provides services to other entities. This can include businesses that offer services such as internet, telecommunication, healthcare, and other essential services.

Work in Process

Inventory that includes the partially finished goods that are still undergoing manufacturing processes.

Materials

The raw substances used in the manufacturing process to create products or are part of the final product.