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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
