Match Each of the Following with the Appropriate Scale of Measurement

question 11

Essay

Match each of the following with the appropriate scale of measurement:
a.interval scale
c.ratio scale
b.ordinal scale
d.nominal scale
-A difference between scores of 40 and 60 would not represent the same difference in applicants' mathematical abilities as the difference between 60 and 80.

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Definitions:

Demand

The capacity of consumers to purchase a good or service, considering their willingness and financial ability, at diverse prices over an established period.

Economic Inefficiencies

Circumstances where resources are not optimally allocated, leading to waste or losses in potential value within an economy.

Product Variety

The assortment of different goods or services offered by a firm or market to cater to diverse consumer preferences.

Monopolistically Competitive

A marketplace configuration in which a wide variety of firms supply products that are analogous but not identical, thereby granting them a modicum of market influence.