Consider That We Have Nominal Data and the Responses Are

question 5

Multiple Choice

Consider that we have nominal data and the responses are "Yes" or "No" to the question: "The next time you order pizza, will you order Domino's?" Which of the following sets of responses shows the MOST variability?

• A) 99 percent say "Yes" and 1 percent say "No"
• B) 80 percent say "Yes" and 20 percent say "No"
• C) 70 percent say "Yes" and 30 percent say "No"
• D) 60 percent say "Yes" and 40 percent say "No"
• E) 51 percent say "Yes" and 49 percent say "No"

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Definitions:

Ice Cream Cones

Frozen dessert treats served in a conical wafer, typically made by filling the cone with scoops of ice cream from one or more flavors.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing a measure of consumer benefit.

Walmart

An American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service versus the total amount that they actually do pay.