With an Interval Scale

question 32

Multiple Choice

With an interval scale:

• A) we cannot compare the absolute magnitude of numbers.
• B) we cannot state that the difference between 0.25 and 0.50 is the same as the difference between 37.75 and 38.00.
• C) there is a naturally-occurring zero point.
• D) the median and the mode are the only permissible measures of average.
• E) All of the above statements are false.

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Definitions:

Stated Amount

The specified value or sum agreed upon in a contract for the provision of goods, services, or coverage.

Negotiable Instrument

A formal paper assuring the disbursement of a specified amount of funds, which could be paid either immediately when requested or at a scheduled time, with the document identifying the payor.

Demand Instrument

A type of draft that allows the payee to demand payment at any time from a holder.

Overdue

Pertaining to something that has not been completed, paid, or returned by its expected or agreed-upon deadline.