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Nominal numbers are numbers used for identification only. They do not indicate quantity, rank, or any other measurement. The properties of nominal numbers are the minimum required to refer to an entity as a number. The term "nominal number" is quite recent, and appears to have originated as a usage in school textbooks derived from the statistical term "nominal data", defined as data indicating "...merely statements of qualitative category of membership." Mathematicians would typically describe this concept simply as a mapping between objects, or sets of objects, to the ordinal numbers.
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What is numeric coefficient?
a feature arising on nominal similar to collectives but referring to a specific amount
What are 3 types of variables?
There are many ways of categorising variables. One classification, used in statistics, is Nominal, Ordinal and Interval.
If a Bank account has a nominal annual rate of 7.23 percent compounded annually how many years will it take to double your money?
10 years
What is the future value of 1000 dollars in 5 years at interest rate of 5 percent compounded semi-annually?
The first responder posted this response:$1,280.08====================================The next responder posted this response:Assuming the 5% interest rate is the nominal annual rate, the first step is to calculate the effective interest rate.ieffective = (1+r/m)m - 1where r is the nominal rate (.05) and m is the compounding periods per year (semiannual = 2 compoundings per year).ieffective = (1+.05/2)2 - 1 = .0506Simply use this effective rate to solveFuture Value = Present Value * (1+i)nwhere i is the effective interest rate and n is the number of years.F = 1000*(1+.0506)5 = $1280.08
What are the rules fr multiplication and divisions of integers?
(positive number) x (positive number) = positive number (positive number)/(positive number) = positive number (positive number) x ( negative number) = negative number (positive number)/( negative number) = negative number (negative number) x (negative number) = positive number (negative number)/(negative number) = positive number
Is the number on a baseball players uniform a ordinal number nominal number or a cardinal number?
nominal
What is nominal value?
A nominal number names something-a telephone number, a player on a team. Nominal numbers do not show quantity or rank. They are used only to identify something.Here are some examples using nominal numbers:jersey number 4zip code 02116
Is number of years nominal or ordinal?
Ordinal.
Is ID number nominal or ordinal?
It is ordinal.
What is the capacity of a container?
It is the nominal number of containers a ship can carry.
What is the nominal diameter of a number 8 rebar?
diameter 16
Would a patient's case number be a ratio or interval scale?
Case number would be nominal scale; the number has no meaning.
IS A PHONE NUMBER A NOMINAL IN STATISTICS?
Yes, a phone number is considered a nominal variable in statistics. Nominal variables are categorical data that represent distinct categories without a meaningful order or ranking. Since phone numbers are used to identify individuals or entities and do not have inherent numerical value or order, they fit this classification.
Is politics nominal or ordinal?
Nominal.
is sex ordinal or nominal?
nominal
How can one determine the nominal interest rate for a loan or investment?
To determine the nominal interest rate for a loan or investment, you can calculate it by dividing the total interest paid or earned by the principal amount, and then multiplying by the number of periods per year. This will give you the annual nominal interest rate.
Is work settings nominal or ordinal?
They are nominal.
