Benefits Such as New Roads, Bridges, and Schools, and Higher

question 122

Multiple Choice

Benefits such as new roads, bridges, and schools, and higher pay or greater safety are examples of _________________ benefits.

• A)expensive
• B)material
• C)implicit
• D)generated
• E)elusive

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Definitions:

Nominal Random Variable

A variable that represents data which can be classified into distinct categories with no logical order.

Nominal Data

Data classified into categories that cannot be ordered or ranked; purely qualitative.

Interval Data

A type of data measurement where the intervals between values are meaningful, allowing for arithmetic operations to be performed.

Ordinal Data

Data that is categorized into ordered levels, groups, or rankings, but the intervals between the ranks are not necessarily equal.