On a Survey, Amount of Education Is Recorded as Some

question 157

True/False

On a survey, amount of education is recorded as some high school, high school graduate, some college, college graduate, etc. This is an example of ordinal data.

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Definitions:

Non-recourse Loan

A type of loan where the lender's ability to recoup losses is limited to seizing the collateral, with no right to pursue the borrower's other assets if the collateral’s value is insufficient.

Principal

An amount of money that is loaned or invested, excluding any interest or profit earned on it.

Collateral

An asset that a borrower offers to a lender as security for a loan, which can be seized if the loan is not repaid according to the agreement.

Accounts Payable

The amount a company owes to suppliers for goods and services purchased with credit.