A Frequency Distribution Cannot Be Created for Qualitative Data,because These

question 37

True/False

A frequency distribution cannot be created for qualitative data,because these variables are not measured on any mathematical scale.

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Definitions:

Substitutes

Products or services that can be used in place of each other, where the increase in price of one leads to an increase in demand for the other.

Cross Elasticity Coefficient

A measure of how the quantity demanded of one good changes in response to a price change in another good.

Substitutability

The degree to which a product or service can be replaced with another as viewed by the consumer, affecting competition and market dynamics.

Minimum Wage

The lowest legal hourly rate that employers can pay workers, established to protect workers from unduly low compensation.