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What are the nominal variables in economics?
Variables measured in monetary units
Are zip codes and example of continuous variables?
It is not continuous.
Can continuous variables assume a limited number of values between any 2 specific values?
Yes, if you have two limiting variables with other possibles variables between them, the variables between the limiting variables would be continuous.
What is the appropriate measure of dispersion for nominal variables?
The appropriate measure of dispersion for nominal variables is the mode, as it identifies the most frequently occurring category within the dataset. Since nominal variables represent distinct categories without a meaningful order, other measures of dispersion, such as range or standard deviation, are not applicable. In addition to the mode, frequency distribution can also provide insights into the distribution of nominal data.
Classification of variables according of continuity of values?
Not continuous => Discrete variable. Continuous => Continuous variable.
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
Are zip codes and example of continuous variables?
It is not continuous.
What is the difference between continuous and discrete system?
The difference between continuous and discrete system lies in the variables. Whereas the continuous systems have dynamic variables, the discrete system have static variables.
Can continuous variables assume a limited number of values between any 2 specific values?
Yes, if you have two limiting variables with other possibles variables between them, the variables between the limiting variables would be continuous.
What is the appropriate measure of dispersion for nominal variables?
The appropriate measure of dispersion for nominal variables is the mode, as it identifies the most frequently occurring category within the dataset. Since nominal variables represent distinct categories without a meaningful order, other measures of dispersion, such as range or standard deviation, are not applicable. In addition to the mode, frequency distribution can also provide insights into the distribution of nominal data.
Classification of variables according of continuity of values?
Not continuous => Discrete variable. Continuous => Continuous variable.
What does peak power and continuous nominal power handling in car speakers?
Peak power is the highest rated output of the speaker when loud (or peak) parts hit. Continuous/nominal power is the average output at normal and continuous listening levels. If you have the Peak Power rating, you can figure out the nominal level by multiplying the peak power by the square root of two (0.707). Peak Power * 0.707 = Nominal Power.
What are 3 types of variables?
There are many ways of categorising variables. One classification, used in statistics, is Nominal, Ordinal and Interval.
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 five continuous variables?
You age, your height, your mass, the speed at which you run, the energy you burn in doing so. They may be measured as discrete quantities but the underlying variables are all continuous.
