**Question:**A financial advisor is putting together a report on different Exchanges on which stock is traded (NYSE, AMEX, or other). What type of variable and level of measurement is the advisor using in his report?- ○ Categorical variable (qualitative), nominal level of measurement- ○ Categorical variable (qualitative), ordinal level of measurement- ○ Quantitative variable, ordinal level of measurement- ○ Quantitative variable, nominal level of measurement**Explanation:**In this context, the variable type and level of measurement involve understanding stock exchanges as categories (e.g., NYSE, AMEX). Each exchange represents a distinct category with no inherent ranking or order, which aligns with the nominal level of measurement. This means the correct choice is the first option: "Categorical variable (qualitative), nominal level of measurement."**Additional Notes:**- **Categorical Variables:** These are variables that represent categories or groups. They can be either nominal or ordinal.- **Nominal Level of Measurement:** This level involves categorization based on names or labels without any specific order or ranking (e.g., types of stock exchanges).- **Ordinal Level of Measurement:** This level includes categorization where the order matters, but the intervals between values are not uniform or meaningful (e.g., a ranking of satisfaction levels from "very unsatisfied" to "very satisfied").- **Quantitative Variables:** These are measured with numerical values and can be either interval or ratio level of measurement, usually not applicable for categorizing stock exchanges.

Values which we have to capture : Here the variable recording the names of different exchanges will…

Answered: A financial advisor is putting together…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

See similar textbooks

Similar questions

look at the screenshot match the given word bank to the corresponding sentence
||| O DATA ANALYSIS AND STATISTICS Choosing the best measure to describe data Answer the questions below. (a) The 9 members of a fraternity have the following test scores: 118, 119, 121, 124, 125, 127, 129, 130, 182. Which measure should be used to summarize the data? Mean Median Mode (b) In Prof. Allen's class, the 10 students had the following scores on the last midterm: 128, 130, 131, 132, 135, 136, 141, 142, 143, 144. Which measure should be used to summarize the data? Mean Median Mode (c) Each member of the football team was asked to report the year he was born. Which measure gives the most common year of birth? Mean Median Mode X Ś
Mean Median Mode? 3,5,18,5,13,5,17,14
Question content area top A defunct website listed the "average" annual income for Florida as $35,031. What is the role of the term average in statistics? Should another term be used in place of average?
What is the variable, population, sample, parameter, and Statistics in this, the average weekly allowance of students last year at the public school high school was 600 pro weekbase on an enrollment of 1080 students the third year students who did not have this information and reviewed 50 students and found average weekly allowance last year to be 550 pesos
A medical researcher measures the increase in heart rate of patients who are taking a stress test. What kind of variable is the researcher studying? Choose the correct answer below. Identifier variable Ordinal variable Categorical variable Quantitative variable
Current Attempt in Progress The USStates dataset, used throughout the textbook, contains information on the 50 US states. A small segment from the dataset is displayed in the following table State 1 California Colorado Connecticut Save for Later Percent of Residents with a College Degree 34.5 39.6 42.7 What variable was used to determine that 42.7% of Connecticut state residents have a college degree? Is it categorical or quantitative? O Variable what state they are from. This is a categorical variable. O Variable what state they are from. This is a quantitative variable. O Variable O Variable whether or not they have a college degree. This is a categorical variable. whether or not they have a college degree. This is a quantitative variable. Attempts Doffrired
create a data set and answer the above question
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
Which cannot be classified as ordinal scale?* Satisfaction of customers as not satisfied, satisfied, very satisfied O Movie ratings Gender O Likert scale

Recommended textbooks for you

A First Course in Probability (10th Edition)

Probability

ISBN:

9780134753119

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability

Probability

ISBN:

9780321794772

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability (10th Edition)

Probability

ISBN:

9780134753119

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability

Probability

ISBN:

9780321794772

Author:

Sheldon Ross

Publisher:

PEARSON

SEE MORE TEXTBOOKS