Qualitative Data Are More Concerned with Describing Meaning Than with Drawing

question 18

True/False

Qualitative data are more concerned with describing meaning than with drawing statistical inferences; what is lost in reliability (faulty transcription, forgotten details, and so forth) is gained in validity. Although qualitative data rely on judgments, they can still be manipulated numerically, much in the same way that quantitative data can be open to judgment.

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Definitions:

Mortgage Loan

A loan secured by real property through the use of a mortgage note.

Savings Account

A financial account at a bank or similar institution that ensures the security of the original sum while yielding a slight return in interest.

Compounded Monthly

Refers to the process where interest is calculated and added to the principal sum each month, leading to interest being earned on interest from prior months.

Student Loans

Loans offered to students to finance their education, which typically have lower interest rates and are repayable after graduation.