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What Are the Differences Between Nominal, Ordinal, Interval and Ratio

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Essay

What are the differences between nominal, ordinal, interval and ratio data? Give examples.


Definitions:

Entrepreneurs

Individuals who initiate, manage, and assume the risks of starting and operating a new business venture.

Accountants

Accountants are professionals responsible for managing and reviewing financial information, ensuring accuracy, and compliance with laws and regulations, often aiding in financial planning and decision-making.

Business Ethicists

Scholars or professionals who study and advise on ethical practices and moral dilemmas in business environments.

Moderation

The act of avoiding extremes or excesses, especially in behavior or expression; seeking a balanced approach.

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