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With fixed principal loans, principal payments and interest are repayable in
Scales Of Measurement
The systems used to categorize the nature of information that data provides, namely nominal, ordinal, interval, and ratio scales.
Nominal Scale
A scale of measurement used to categorize variables without providing any quantitative value or order.
Ratio Scale
A scale of measurement where there is a true zero and equal intervals, allowing for the comparison of magnitudes and the performance of mathematical operations.
Statistical Inference
The process of drawing conclusions about a population’s parameters based on a sample taken from the population.
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