Which of the Following Is an Example of a Variable

question 6

Multiple Choice

Which of the following is an example of a variable measured at the ordinal level of measurement?

• A) Military rank
• B) Birth order of siblings
• C) Age measured as child, teen, adult, and elderly
• D) Order in which subjects complete a given task
• E) All of the above are measured at the ordinal level

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Definitions:

Contribution Margin

The difference between sales revenue and variable costs, indicating how much revenue contributes to covering fixed costs and generating profit.

Total Costs

The sum of all expenses incurred by a business in producing goods or services, including fixed and variable costs.

Net Present Value

The divergence in the current worth of cash entering and leaving an entity throughout a specified timeframe.

Forecasting Risk

The risk of inaccuracies in predicting future outcomes, often impacting financial planning and decision-making in businesses.