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The following data represent a sample of property sales in Cape May County during the year 2000.Identify the qualitative and quantitative variables.What are the natural categories for Town and Class? Identify the measurement scales for all variables.
Total Utility
The total satisfaction or benefit derived by consuming a product or service; it increases as more units are consumed, up to a certain point.
Satisfaction
A measure of how products or services meet or surpass customer expectations.
Consumption
The use of goods and services by households or individuals, typically as it contributes to economic measures like GDP.
Service
An intangible act or use for which a consumer, firm, or government is willing to pay.
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