Select the Description That Most Completely Classifies the Given Variable

question 9

Multiple Choice

Select the description that most completely classifies the given variable
-Preference ratings: as in "Rate the item of most importance to you a 5 and that of least importance a 1"

• A) Qualitative, ordinal
• B) Quantitative, ordinal
• C) Quantitative, ordinal, discrete
• D) Qualitative, nominal

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Definitions:

Markup

Markup refers to the difference between the cost of a good or service and its selling price, expressed as a percentage of the cost.

Market Conditions

The various factors that influence the demand for and supply of products or services within a market.

Dollar Terms

The practice of expressing or measuring financial transactions, values, or performance in units of the U.S. dollar.

Markup

The amount added to the cost price of goods to cover overhead and profit.