Question

Classify each of the following as nominal, ordinal, interval, or ratio data.
(a) The ranking of a company in the Fortune 500.
(b) The number of tickets sold at a movie theater on any given night.
(c) The identification number on a questionnaire.
(d) Per capita income.
(e) The trade balance in dollars.
(f) Profit/loss in dollars.
(g) A company’s tax identification.
(h) The Standard & Poor’s bond ratings of cities based on the scales below
RATING GRADE
Highest quality AAA
High quality AA
Upper medium quality A
Medium quality BBB
RATING GRADE
Somewhat speculative BB
Low quality, speculative B
Low grade, default possible CCC
Low grade, partial recovery possible CC
Default, recovery unlikely C

Answer 1

Answer:

(a) The ranking of a company in the Fortune 500. Ordinal

(b) The number of tickets sold at a movie theater on any given night.   Ratio

(c) The identification number on a questionnaire.  Nominal

(d) Per capita income.  Ratio

(e) The trade balance in dollars.  Ratio

(f) Profit/loss in dollars.  Ratio

(g) A company’s tax identification.  Nominal

(h) The Standard & Poor’s bond ratings of cities Ordinal

Step-by-step explanation:

Nominal, ordinal, interval, or ratio data are the four fundamental levels of measurement scales that are used to capture data.

Nominal scales are used for labeling variables, without any quantitative value.

Ordinal the order of the values is what is significant, but the differences between each one is not really known.

Interval we know both, the order and the exact differences between the values

Ratio data they have the order, the exact value between units, and have an absolute zero

Answer 2

Answer:

a. ordinal

b. ratio

c. nominal

d. ratio

e. interval

f. interval

g. nominal

h. ordinal

Step-by-step explanation:

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