Tests for Ordinal Data

question 48

Multiple Choice

Tests for ordinal data

• A)are nonparametric tests
• B)do not measure variance to test for significance
• C)minimize problems associated with having outliers in a data set
• D)all of the above

---

Definitions:

Fixed Costs

Expenses that do not change with changes in the volume of production or sales, such as rent, salaries, and insurance.

Break-Even Point

The point at which total costs and total revenues are equal, resulting in no net loss or gain.

Monthly Profit

The total revenue of a business minus the total expenses for the month, indicating the financial gain.

Variable Cost

Costs that change in proportion to the level of production or business activity, such as materials and labor.