Rating a Restaurant by a Number of Stars Is an Example

question 64

True/False

Rating a restaurant by a number of stars is an example of an ordinal level of
measurement.

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Definitions:

Premiums

Periodic payments made to an insurance company in exchange for coverage and protection against financial loss or damage.

Co-payment

A fixed amount paid by a health insurance plan member for covered services, with the remainder being covered by the insurance.

Deductible

The amount paid out of pocket by the policyholder before an insurance policy begins to pay.

Incentivize

To provide motivation or encouragement through rewards or benefits, aiming to promote certain behaviors or actions.