Which of the Following Best Describes Numerical Statistical Variables

question 36

Multiple Choice

Which of the following best describes numerical statistical variables?

• A)Variables whose outcomes are real numbers.
• B)Variables which are nominal.
• C)Variables which are categorical.
• D)None of these choices are correct.

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Definitions:

Nonexcludable

A characteristic of a good whereby it is not possible to prevent individuals from consuming the good once it has been provided.

Radio Signal

An electronic transmission of electromagnetic waves that can carry audio, data, or video signals.

Marginal Cost

The charge for generating one more unit of a product or service.

Total Willingness to Pay

The maximum amount an individual or group is willing to pay for a good or service, reflecting the total value they derive from it.