Select the False Statement Below

question 4

Multiple Choice

Select the false statement below.

• A) The classification of a variable (nominal, ordinal, etc.) has an influence on which descriptive statistics are calculated.
• B) Descriptive statistics are used to describe characteristics of a set of scores.
• C) Data that are at least interval are desirable because many descriptive statistics can be applied to the data.
• D) Classifying people in regard to their gender yields ordinal data.
• E) Inferential statistics are used when a sample is used to represent a population.

---

Definitions:

Cost Concept

A concept of accounting that determines the amount initially entered into the accounting records for purchases.

Cost-Plus Approach

A pricing strategy where the selling price is determined by adding a specific markup to a product's cost price.

Product Pricing

The process of determining the cost at which a product will be sold, taking into account factors like production costs, market demand, and competition.

Rate of Return

The gain or loss on an investment over a specified period, expressed as a percentage of the investment's cost.