Four different beverages are sold at a fast-food restaurant: soft drinks, tea, coffee, and bottled water. a. Explain why the type of beverage sold is an example of a categorical variable. b. Explain why the type of beverage sold is an example of a nominal scaled variable. a. Choose the correct answer below. O A. Type of beverage sold is a categorical variable because the values of the variable represent quantities. O B. Type of beverage sold is a categorical variable because the values of the variable arise from a measuring process. O C. Type of beverage sold is a categorical variable because the values of the variable arise from a counting process. O D. Type of beverage sold is a categorical variable because the values of the variable can only be placed into categories. b. Choose the correct answer below. O A. Type of beverage sold is a nominal scaled variable because the difference between measurements is a meaningful quantity but does not involve a true zero point. O B. Type of beverage sold is a nominal scaled variable because there are no rankings for the different values of the variable. O C. Type of beverage sold is a nominal scaled variable because the values of the variable have distinct categories in which ranking is implied. O D. Type of beverage sold is a nominal scaled variable because the difference between the measurements is a meaningful quantity that involves a true zero point.
Four different beverages are sold at a fast-food restaurant: soft drinks, tea, coffee, and bottled water. a. Explain why the type of beverage sold is an example of a categorical variable. b. Explain why the type of beverage sold is an example of a nominal scaled variable. a. Choose the correct answer below. O A. Type of beverage sold is a categorical variable because the values of the variable represent quantities. O B. Type of beverage sold is a categorical variable because the values of the variable arise from a measuring process. O C. Type of beverage sold is a categorical variable because the values of the variable arise from a counting process. O D. Type of beverage sold is a categorical variable because the values of the variable can only be placed into categories. b. Choose the correct answer below. O A. Type of beverage sold is a nominal scaled variable because the difference between measurements is a meaningful quantity but does not involve a true zero point. O B. Type of beverage sold is a nominal scaled variable because there are no rankings for the different values of the variable. O C. Type of beverage sold is a nominal scaled variable because the values of the variable have distinct categories in which ranking is implied. O D. Type of beverage sold is a nominal scaled variable because the difference between the measurements is a meaningful quantity that involves a true zero point.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Four different beverages are sold at a fast-food restaurant: soft drinks, tea, coffee, and bottled water.
a. Explain why the type of beverage sold is an example of a categorical variable.
b. Explain why the type of beverage sold is an example of a nominal scaled variable.
a. Choose the correct answer below.
O A. Type of beverage sold is a categorical variable because the values of the variable represent quantities.
O B. Type of beverage sold is a categorical variable because the values of the variable arise from a measuring process.
O C. Type of beverage sold is a categorical variable because the values of the variable arise from a counting process.
O D. Type of beverage sold is a categorical variable because the values of the variable can only be placed into categories.
b. Choose the correct answer below.
O A. Type of beverage sold is a nominal scaled variable because the difference between measurements is a meaningful quantity but does not involve a true zero point.
O B. Type of beverage sold is a nominal scaled variable because there are no rankings for the different values of the variable.
O C. Type of beverage sold is a nominal scaled variable because the values of the variable have distinct categories in which ranking is implied.
O D. Type of beverage sold is a nominal scaled variable because the difference between the measurements is a meaningful quantity that involves a true zero point.
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