Multiple Choice
For each data set determine if it is quantitative or qualitative & which level of measurement best applies.
(D) The dates of establishment for different businesses are recorded.
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1. Intro to Stats and Collecting Data
Levels of Measurement
2:31 minutesProblem 1.1.33
Textbook Question
"In Problems 27–34, determine the level of measurement of each variable.
Assessed value of a house"
Verified step by step guidance1
Understand the four levels of measurement: nominal, ordinal, interval, and ratio. Each level describes the nature of the data and what kind of mathematical operations are meaningful.
Recall that the 'assessed value of a house' is a numerical value representing the monetary worth assigned to a house for tax or sale purposes.
Determine if the values have a meaningful order and if differences and ratios between values are meaningful. Since house values can be compared, subtracted, and ratios can be formed (e.g., one house is twice as valuable as another), this suggests a ratio level.
Confirm that the variable has a true zero point, meaning a value of zero indicates the absence of value. In the case of house value, zero means no value, which supports the ratio level classification.
Conclude that the 'assessed value of a house' is measured at the ratio level because it has all the properties of the other levels plus a meaningful zero and allows for meaningful comparisons using multiplication and division.
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Video duration:
2mKey Concepts
Here are the essential concepts you must grasp in order to answer the question correctly.
Level of Measurement
The level of measurement classifies data based on the nature of information and the mathematical operations that can be performed. Common levels include nominal, ordinal, interval, and ratio, each with increasing complexity and precision.
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Ratio Level of Measurement
Ratio level data have all the properties of interval data, plus a true zero point, allowing for meaningful ratios. Examples include height, weight, and assessed value of a house, where zero means none of the quantity exists.
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Assessed Value as a Quantitative Variable
The assessed value of a house is a numerical variable representing monetary worth. It is quantitative and measured on a ratio scale because it has a meaningful zero and allows comparison using multiplication and division.
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