Consider the Questionnaire Items Below as You Answer the Following

question 3

Multiple Choice

Consider the questionnaire items below as you answer the following questions.
1. Age ______
2. Total years teaching 1-5_____ 6-10 ______ 11-15 ______16-20 _______
3. 21-25 __________ more than 25 _______
4. School ____________
5. Number of children in your average-sized class _______
6. Do you agree that class size negatively affects instruction
SA A U D SD
7. Please list the ways in which class size effects your instruction
-Data collected from item 4 will be ________ level data.

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

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Definitions:

Insurance Industry

The sector of the economy that provides coverage against financial loss, including various types of insurance products and services.

Moral Hazard

The risk that one party to a contract can change their behavior to the detriment of another after the contract has been concluded.

Adverse Selection

A situation where sellers have information that buyers do not, or vice versa, often resulting in a market failure.

Market Signals

Indicators or signs derived from market behavior that provide information or data regarding the demand or supply conditions, influencing decisions.