Determine Whether the Data Described Are Qualitative or Quantitative and Give

question 81

Multiple Choice

Determine whether the data described are qualitative or quantitative and give their level of measurement. If the data are quantitative, state whether they are continuous or discrete.
-The number of inches of rain in a month

• A)Qualitative, ratio, continuous
• B)Quantitative, interval, continuous
• C)Quantitative, ratio, discrete
• D)Quantitative, ratio, continuous

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Definitions:

Exchange Rate

The value of one currency for the purpose of conversion to another, indicating how much of one currency can be exchanged for another.

Canadian Dollars

The Canadian Dollar is the currency of Canada, symbolized as CAD or C$, and it is one of the major currencies traded globally.

Law of One Price

An economic theory stating that in an efficient market, identical goods must have only one price, taking into account factors like transportation costs and trade barriers.

Exchange Rate

The value of one currency for the purpose of conversion to another, indicating how much one currency is worth in terms of the other.