Frequency Distributions May Be Compiled for Variables Measured at Which

question 29

Multiple Choice

Frequency distributions may be compiled for variables measured at which level?

• A)nominal
• B)ordinal
• C)interval-ratio
• D)all of the above

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Definitions:

Revenue Generated

The total amount of money received by a company from its sales of goods or services, before any expenses are subtracted.

Deadweight Loss

A decline in economic productivity that happens when a good or service does not reach or cannot reach its equilibrium.

Excise Tax

A tax levied on specific goods, services, or transactions, often included in the price of the product, such as alcohol, tobacco, and fuel.

Equilibrium Price

The cost at which the amount of a product or service that consumers want to buy matches the amount available, leading to equilibrium in the market.