Which of the Following Statements Is INCORRECT with Respect to Ordinally

question 62

Multiple Choice

Which of the following statements is INCORRECT with respect to ordinally scaled variables?

• A) The difference between the first- and second-ranked people is the same as the difference between the second- and third-ranked people.
• B) Both the median and mode are permissible measures of average.
• C) We can transform an ordinal scale in any way we wish as long as we maintain the basic ordering of the objects.
• D) The ordinal scale implies identity.
• E) The ordinal scale implies relative standing on the measured attributes.

---

Definitions:

Risk Management

The process of identifying, assessing, and prioritizing risks followed by coordinated efforts to minimize, monitor, and control the impact of unfortunate events.

Risk Sharing

The practice of distributing potential financial losses among multiple stakeholders or partners.

Project Risk

Potential events or circumstances that could have negative effects on a project's objectives, timelines, or outcomes.

Project Objective

A specific goal or target that a project intends to achieve, which guides the planning and execution phases.