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

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter4: Polynomial And Rational Functions
Section4.6: Rational Functions
Problem 11SC: Find the mean hourly cost when the cell phone described above is used for 240 minutes.
icon
Related questions
Question
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?
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

Blurred answer
Recommended textbooks for you
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
Trigonometry (MindTap Course List)
Trigonometry (MindTap Course List)
Trigonometry
ISBN:
9781305652224
Author:
Charles P. McKeague, Mark D. Turner
Publisher:
Cengage Learning
Algebra: Structure And Method, Book 1
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell