What Is Hierarchical Data

question 3

Multiple Choice

What is hierarchical data?

• A) Data in which scores are multi-linear
• B) Data in which scores are contextualised
• C) Data in which scores are nested within contexts
• D) Data in which scores are linear

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Definitions:

Reservation Price

This is another term for reserve price, meaning the lowest price at which someone is willing to sell a good or service.

Tape Recorder

An electronic device used for recording sound on magnetic tape and usually capable of playback.

Money

A medium of exchange used to facilitate transactions of goods and services.

Producer's Surplus

The difference between the amount a producer is willing to accept for a good or service and the actual amount received from its sale.