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EXPLANATION: The rating is ordinal scale not an interval scale because the difference in rating
between "excellent" and "good" does not have to be the same as the difference between "poor" and
"terrible".
KEYWORDS: ordinal scale, types of data
-Referring to Scenario 1-1, the possible responses to the question "What brand of Blu-ray player
Did you purchase?" result in
Performance Norm
Standardized expectations regarding the level of work performance and productivity accepted and upheld by a group or organization.
Work Effort
The amount of physical or mental energy utilized towards accomplishing a task or objective within a workplace setting.
Team Members
Individuals who are part of a group working together towards a common goal or project, each contributing with their specific roles and responsibilities.
Marginal Revenue
The additional revenue that a firm gains from selling one more unit of a good or service.
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