We Can Apply Parametric Tests,such as the T-Test,to Ordinal or Ranked

question 2

True/False

We can apply parametric tests,such as the t-test,to ordinal or ranked level of measurement.

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Definitions:

Personal Distribution

The distribution of income and wealth among individuals and households in an economy.

Gini Ratio

An index that quantifies the disparity in income distribution among a population, where 0 signifies complete equality and 1 denotes complete disparity.

Income Distribution

The way in which total income is shared among the population or different groups within a society.

Top Fifth

Often refers to the top 20% segment of a distribution, commonly used in the context of income or wealth distribution.