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

question 98

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 "How much time do you use the Blu-ray player every week on the average?" 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:

Economic Models

Simplified frameworks used to illustrate economic processes or theories through mathematical equations or diagrams.

Rationally

Acting based on reason or logic, typically in a way that maximizes self-interest or advantage within certain constraints or information.

Mental Accounting

The cognitive process individuals use to organize, evaluate, and keep track of their financial activities and decisions.

Irrational Decisions

Decisions made that do not follow logical reasoning or expected outcomes.