A Researcher Has Calculated the Mean for a Variable That

question 20

Multiple Choice

A researcher has calculated the mean for a variable that is ordinal in level of measurement.

• A)This operation is a violation of level of measurement criterion and the results should be disregarded.
• B)This violation of level of measurement criterion is common and results should be treated with caution.
• C)No violation has occurred,this is a perfectly acceptable application of statistics.
• D)This is a mistake: means should never be calculated for ordinal variables because they are always continuous.

Understand the implications of the Louisiana Purchase on American expansion and politics.

Evaluate the formation and influence of political parties in shaping the U.S. political landscape.

Analyze the economic strategies proposed by Hamilton and their impact on different regions and social groups in the U.S.

Comprehend the significance and outcomes of major treaties and laws passed during the period.

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Definitions:

Consumer Sovereignty

The concept that consumers have the ultimate control over the goods and services produced by economies based on their preferences and spending choices.

Market System

An economic organization where choices relating to the investment in, production of, and distribution of goods and services are influenced by supply and demand dynamics, and where the prices are freely set in an open market pricing system.

Consumers Buy

Consumers buy refers to the action of individuals or households purchasing goods and services for personal use, driven by preferences, income, and prices.

Economic Profits

Profits calculated by subtracting both explicit and implicit costs from total revenues, which is a more comprehensive measure of true profitability.