A Nominal Scale Contains _____

question 23

Multiple Choice

A nominal scale contains _____.

• A) mutually exclusive and collectively exhaustive categories as well as the property of order, but not distance or unique origin
• B) the properties of order, classification, and equal distance between points but no unique origin
• C) mutually exclusive and collectively exhaustive categories, but without the properties of order, distance, and origin
• D) the properties of classification, order, equal distance, and unique origin
• E) the four major sources of error

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Definitions:

Economically Most Efficient

A situation or method that yields the maximum output without wasting resources.

Labor And Capital

The two primary factors of production; labor represents human contribution, while capital includes tools, equipment, and technology used in production.

Minimize Production Costs

The process of reducing the expenses associated with manufacturing products or providing services without compromising quality.

Competitive Pressures

Forces that compel businesses to compete more effectively through pricing, innovation, and improved quality to gain or maintain market share.