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What are the nominal variables in economics?
Variables measured in monetary units
What are examples of nominal variables?
Your nationality, city that you live in, model of your car(s), colour of your eyes.
How many different levels of measurement for variables exist?
Nominal or category;Ordinal scale;Interval scale; andRatio scale.
What is the definition of chisquare?
Chi-square is a statistic used to assess the degree of the relationship and degree of association between two nominal variables
What is an Example of two independent variables?
Variables are symbols that replace unknown numbers. Variables are often letters. For example: 5*x=10 7*6=y Here "x" and "y" are the variables.
What are the nominal variables in economics?
Variables measured in monetary units
What is nominal and ordinal in qualitative variables?
Nominal and ordinal variables are both qualitative or discrete variables. Nominal variables allow for only qualitative classification while an ordinal variable is a nominal variable, but its different states are ordered in a meaningful sequence.
Economic variables whose values are measured in monetary units are called?
Nominal Variables
What are 3 types of variables?
There are many ways of categorising variables. One classification, used in statistics, is Nominal, Ordinal and Interval.
Is age a categorical variable?
Age is acontinuousvariable because it can bemeasured with numbers. A categorical variable deals with nominal variables example male or female, political view, etc
Quantitative variables can be separated into what two types?
nominal and ordinal is wrong; those are the two types of qualitative variables. Ratio and interval are the two types of quantitative variables.
What are examples of nominal variables?
Your nationality, city that you live in, model of your car(s), colour of your eyes.
Which graph would best represent differences in size between two variables?
The answer depends on the variables. If the sizes were on a nominal scale - small, medium, large - for example, then a stacked bar with frequencies would probably be the best. Otherwise, frequency polygons or cumulative frequency charts will do.
How many different levels of measurement for variables exist?
Nominal or category;Ordinal scale;Interval scale; andRatio scale.
How many types of variables are there'?
Three, they are: Constant,dependant, & controlled. Alternatively, you can say there are 4: nominal, ordinal, interval, and ratio.
What are nominal values?
Nominal values are the values that a component is specified to be. For example, the nominal value of a 10K resistor is 10K. Its actual value may vary, though, based on its tolerance.
What is nominal line voltage?
'Nominal' means 'named'. So a 'nominal' voltage is the named voltage of a system. For example, when we talk about a 120-V or 240-V system, we are describing their nominal values, not their actual values which can change from moment to moment.
