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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
Why is scientific notation useful in economics?
Scientific notation is useful in economics to compute very large or very small numbers.
What are the types of variables in statistics?
dependent variables, independent variable, nominal, ordinal, interval, ratio variableThere are three main kinds:Nominal: such as colour of eyes, or gender, or species of animal. With nominal variables there is no intrinsic sense in which one category can be said to be "more" than another.Ordinal: Such as Small/Medium/Large, orStrongly Disagree/Disagree/Indifferent/Agree/Srongly Agree. The categories can be ordered but the differences between pairs is not comparable. For example, it is not really possible to say that the difference betwen Strongly disagree and disagree is the same as (or double or half or whatever) the difference between indifferent and agree.Interval: These are variables where the distance between one pair of values (their interval) can be related to the distance between another pair. Such variables can be subdivided into discrete and continuous.Another way of classifying variables is independent and dependent.The dependent variable is a random variable but the independent variable can be random or non-random.
