SCENARIO 1-1 The Manager of the Customer Service Division of a Major

question 106

Multiple Choice

SCENARIO 1-1
The manager of the customer service division of a major consumer electronics company is interested in determining whether the customers who have purchased a Blu-ray player made by the company over the past 12 months are satisfied with their products.
-Referring to Scenario 1-1,the possible responses to the question "Are you happy,indifferent,or unhappy with the performance per dollar spent on the Blu-ray player?" result in

• A)a nominal scale variable.
• B)an ordinal scale variable.
• C)an interval scale variable.
• D)a ratio scale variable.

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Definitions:

Supply-Elasticity Differences

Variations in how sensitive the quantity supplied of a good is to changes in its price across different markets or goods.

Productivity Differences

Variations in the efficiency of production processes or workers, impacting the output generated from a set amount of inputs.

Private Ownership

The legal right of individuals or corporations to own property and assets, distinguishing from public or state ownership.

Allocation Mechanism

The process or system used to determine how resources are distributed and goods and services are allocated in an economy.