Explain the Difference Between Qualitative and Quantitative Variables Noting the Relationship

question 19

Essay

Explain the difference between qualitative and quantitative variables noting the relationship of nominal,ordinal,interval,and ratio data to these terms.

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Definitions:

Competitive Advantage

The attributes or conditions that allow a company to produce goods or services better or more cheaply than its competitors.

Environmental Costs

Expenses associated with the negative impact of a company's operations on the natural environment, including waste disposal, pollution control, and resource depletion.

Climate Change

A significant and lasting change in the statistical distribution of weather patterns over periods ranging from decades to millions of years.

Five Tiers

Refers to a hierarchical approach in various contexts, often used to classify or organize information, objects, or entities across five levels of importance or complexity.