The _____ Involves Converting a Set of Scores on a Variable

question 127

Multiple Choice

The _____ involves converting a set of scores on a variable to ranks and then analyzing these rank scores using the traditional parametric formulas.

• A)rank order approach
• B)rank transformation approach
• C)parametric approach
• D)traditional approach

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Definitions:

Economic Decisions

Choices made by individuals, businesses, or governments involving the allocation of resources to satisfy their needs and desires.

Correlated Risks

Risks that are linked in such a way that the occurrence of one affects the likelihood of the occurrence of another.

Agricultural Industry

The sector of the economy that deals with the production, processing, and distribution of food, fibers, and other goods derived from farming and related activities.

Screening

Using observable information about people to make inferences about their private information; a way to reduce adverse selection.