You Are the Owner of a Camping Site and Want

question 64

Multiple Choice

You are the owner of a camping site and want to estimate the level of customer satisfaction among your clients.For this purpose,you select a representative sample of your clients and offer them a discount good for their next visit as compensation for filling out a short questionnaire.One question specifically says,"How satisfied are you with your experience,on a scale from (1) to (5) ,where (1) is 'very dissatisfied' and (5) is 'very satisfied'?" This is an example of _______.

• A) interval level data
• B) ordinal level data
• C) nominal level data
• D) ratio level data
• E) relative level data

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Definitions:

Depreciation

A technique for distributing the expense of a physical asset throughout its lifespan.

Commercial Substance

A term used in accounting to indicate that a transaction significantly changes the economic position of the parties involved.

Real Estate Commissions

Fees paid to real estate agents for services related to the buying or selling of property, usually calculated as a percentage of the sale price.

Legal Fees

Costs associated with legal services provided by attorneys or law firms to individuals or organizations.