Operational Definitions Which Scale of Measurement Provides the Least Information

question 64

Multiple Choice

Operational Definitions Which scale of measurement provides the least information about a variable?

• A)nominal
• B)ordinal
• C)interval
• D)ratio

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Definitions:

Market 2

A term that might refer to a secondary or alternative market for goods, services, or securities distinct from the primary or original market.

Discriminating Monopolist

A monopolist that charges different prices to different consumers or in different markets for the same product, based on the willingness to pay.

Different Prices

Refers to the variability in the cost of goods and services across different markets, locations, or time periods due to various factors such as demand, supply, and inflation.

Maximize Profits

The process of adjusting the production level, pricing, or other variables to achieve the highest possible financial gain.