For Ordinal Level Variables with Only a Few Categories or Values

question 32

Multiple Choice

For ordinal level variables with only a few categories or values, an appropriate measure of association would be________.

• A) Spearman's rho.
• B) Gamma.
• C) Chi square.
• D) Cramer's V.

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Definitions:

Peak-Load Pricing

A pricing strategy that adjusts prices in response to varying levels of demand, typically higher during peak usage times.

Marginal Revenue

The additional income that is generated by selling one more unit of a good or service.

Peak-Load Pricing

A pricing strategy that applies higher charges for goods or services during times of peak demand to manage usage and maximize profit.

Second-Degree Price Discrimination

Practice of charging different prices per unit for different quantities of the same good or service.