A Possible Problem with Open-Ended or Unequal Intervals Is That

question 7

Multiple Choice

A possible problem with open-ended or unequal intervals is that they

• A)do not permit the computation of midpoints.
• B)are useful only for nominal-level variables.
• C)can be used only with variables that have few scores.
• D)cannot be used for interval-ratio level variables.

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Definitions:

Price Elasticity of Supply

A measure of how much the quantity supplied of a good responds to a change in the price of that good.

Government Program

An initiative undertaken by a government to address public needs in areas such as health, education, and welfare.

Market Price

Is the current price at which an asset or service can be bought or sold in a marketplace.

Price Rises

An increase in the monetary cost of goods or services over time, typically measured by inflation rates.