What Is the Lowest Level of Measurement for Which You

question 3

Multiple Choice

What is the lowest level of measurement for which you can legitimately use a histogram?

• A) nominal
• B) ordinal
• C) interval/ratio

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Definitions:

Pooling Risks

The practice of spreading financial risk among a large number of contributors to reduce the risk to individuals.

Insurance Company

A financial institution that offers policies to individuals or entities, offering protection from financial losses in exchange for premiums.

Car Theft

The act of unlawfully taking another's car with the intent to permanently or temporarily deprive the owner of it.

Private Information

Information that is not publicly available and is held by some individuals or firms, giving them an advantage.