18. FILE DOW. The accompanying table shows a portion of the 30 companies that comprise the Dow Jones Industrial Average (DJIA). For each company, the data set lists the year that it joined the DJIA, its industry, and its stock price (in $) as of February 15, 2019. Company 3M (MMM) American Express (AXP) Year 1976 1982 ⠀ 2018 Industry Health Care Finance ⠀ Health Care Price 208.9 107.4 ⠀ Walgreen (WBA) a. What is the measurement scale of the Industry variable? b. What is the measurement scale of the Year variable? What are the strengths of this type of measurement scale? What are its weaknesses? c. What is the measurement scale of the Price variable? What are the strengths of this type of measurement scale? 73.43

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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Chapter10: Statistics
Section10.3: Measures Of Spread
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18. FILE DOW. The accompanying table shows a portion of the 30 companies that comprise the Dow Jones Industrial Average (DJIA). For each company, the data set lists the
year that it joined the DJIA, its industry, and its stock price (in $) as of February 15, 2019.
Company
3M (MMM)
American Express (AXP)
:
Year
1976
1982
⠀
2018
Industry
Health Care
Finance
⠀
Health Care
Price
208.9
107.4
⠀
73.43
Walgreen (WBA)
a. What is the measurement scale of the Industry variable?
b. What is the measurement scale of the Year variable? What are the strengths of this type of measurement scale? What are its weaknesses?
c. What is the measurement scale of the Price variable? What are the strengths of this type of measurement scale?
Transcribed Image Text:18. FILE DOW. The accompanying table shows a portion of the 30 companies that comprise the Dow Jones Industrial Average (DJIA). For each company, the data set lists the year that it joined the DJIA, its industry, and its stock price (in $) as of February 15, 2019. Company 3M (MMM) American Express (AXP) : Year 1976 1982 ⠀ 2018 Industry Health Care Finance ⠀ Health Care Price 208.9 107.4 ⠀ 73.43 Walgreen (WBA) a. What is the measurement scale of the Industry variable? b. What is the measurement scale of the Year variable? What are the strengths of this type of measurement scale? What are its weaknesses? c. What is the measurement scale of the Price variable? What are the strengths of this type of measurement scale?
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