What is the level (or scale) of measurement for each variable? Nominal, ordinary, or ratioWTO StatusPer Capita GDPTrade DeficitFitch RatingFitch Outlook **Table: Economic Indicators of Selected Nations**| Nation | WTO Status | Per Capita GDP | Trade Deficit | Fitch Rating | Fitch Outlook ||-------------|------------|----------------|----------------|--------------|---------------|| Armenia | Member | 5,400 | 2,673,359 | BB- | Stable || Australia | Member | 40,800 | -33,304,157 | AAA | Stable || Austria | Member | 41,700 | 12,796,558 | AAA | Stable || Azerbaijan | Observer | 5,400 | -16,747,320 | BBB- | Positive |**Explanation of Columns:**- **Nation**: The name of the country.- **WTO Status**: Indicates whether the country is a member or an observer in the World Trade Organization.- **Per Capita GDP**: The average economic output per person, expressed in currency units.- **Trade Deficit**: The amount by which a country's imports exceed its exports. Negative numbers indicate an excess of imports over exports.- **Fitch Rating**: A credit rating given by Fitch Ratings, indicating the country's creditworthiness.- **Fitch Outlook**: The anticipated direction of the country's credit rating, categorized into Stable, Positive, or Negative.

Answered: What is the level (or scale) of…

What is the level (or scale) of measurement for each variable? Nominal, ordinary, or ratio WTO Status Per Capita GDP Trade Deficit Fitch Rating Fitch Outlook

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Q: Use this data and predict an apartment's monthly rent base on its square footage. What is this…

A: Given information: Monthly Rent Square Feet 815 679 695 890 930 1165 799 692 995 1020…

Q: Are the data qualitative or quantitative? Quantitative Qualitative What is the data set's level of…

A: Given data : Northeast Southwest Northwest Southern Northeast Southwest

Q: To avoid insensitive measures, it is important to use measures that include: a. large differences…

A: given explanation: insensitive measure can be occurred when our measure is unable to detect the…

Q: Find the point estimate for the true difference between the given population means. Round your…

A: The mean of weights of soap bar A is, Mean=∑Xsample…

Q: The region of a country with the highest level of coal production for the past six years is shown…

A: The provided data is non numerical and categorical because the data is categorised according to…

Q: How do you define the measurement scale? classify measurement scale with examples? Write it…

A: Definition of measurement scale: The measurement scale determines the kind of scale that measures…

Q: Which of the following variables is considered to be qualitative? O method of payment (e.g., cash or…

A: A variable is any characteristic that is being measured.

Q: Presidential Candidates Pulse Votes Bong Bong Marcos 85.92% Leni Robredo 8.45% Francisco Domagoso…

A: Given data : 85.92, 8.45, 2.82, 1.41, 1.41 Sorted data: 1.41 1.41 2.82 8.45 85.92

Q: Example 3.3. Prices of hotdogs ($/oz.):…

A: The objective is to construct frequency table for the given data:

Q: Hair color, race, smoking status are nominal data ordinal data ratio data

Q: Average number of television sets per household in North Carolina, using data from a sample of 1100…

A: A statistic is the measure of an attribute that is calculated from a sample. In statistics, the…

Q: Is there any nominal scale?

A: A Nominal Scale is a measurement scale, in which numbers serve as tags or labels

Q: Evaluate the Paasche Price index for 2020 using 2010 as the base year for the above data. A. 117.7…

A: We have to calculate price index for the given data.

Q: Which variables are quantitative? (Select all that apply.) cost operating system Odisplay size…

A: A variable can be of two type: Categorical and Quantitative. Categorical variables are those which…

Q: Adolescent general well-being as measured by the short version of the adolescent general well-being…

A: Adolescent general well-being as measured by the short version of the adolescent general well-being…

Q: II. Enumeration. B. Levels of Measurement 1. 2 Examples of Nominal Measurement 2. 2 Examples of…

A: Level of measurement is vital to statistical analysis.

Q: I posted my question as a picture

A: Introduction:There are broadly 4 scales of measurement used in Statistics, that either categorize…

Q: Classify the variables by the levels of measurement used. Explain your choice of the levels of…

A: Given information: The variables of a questionnaire study are given.

Q: Which of the following is an example of a nominal scale? Weight Order of finish in the National…

A: Nominal scales:Nominal scales are used in the identification, naming, classification, or…

Q: Determine the level of measurement of the variable. Livability rankings for cities Choose the…

A: Nominal: When the possible observations are tags or categories or names, without any natural…

Q: Which of the following activities would be considered part of data preparation? Recoding a variable…

A: Data preparation is the process that happens before data processing. In this method, four steps are…

Q: l911-1920 1. 1921–1930 1931-1940 1941– 1950 1951-1960 1961- 1970 1971-1980 1981- 1990 1991-2000…

A: The formula to compute the percentage is,

Q: Prepare Index Numbers of prices for three years with average price as the Base Trom the data given…

A: Index number are used to measure the price related to the other. It is calculated by the price of…

Q: Maximizing the profit of timber harvesting involves considering all of the following except: A.…

A: Whenever we are harvesting any natural resource , only the outcome of profit source variant is…

Q: Classify the variables by the levels of measurement used. Explain why you choose these of the…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: The measurements of suspended solid material concentration in water samples is illustrated in the…

A: From the given information, From the above box plot, the range can be computed as; Range of the data…

Q: c) Calculate first differences, second differences, and ratios. Which model appears most suitable…

A: Using difference to determine the model: By finding the differences between dependent values, you…

Q: Cite any relevant observation/s from the diagram below. 80.5 84.0 87.5 91.0 94.5 98.0 Acetone…

A: Given diagram It is a dot plot for Acetone concentration

Q: Classify the variables by the levels of measurement used. Explain your choice of the levels of…

A: Given information: The variables of a questionnaire study are given.

Q: A doctor notes her patient's temperature in degrees Fahrenheit every hour to make sure the patient…

A: We know that the properties of an interval scale are; it has all the properties of an ordinal scale…

Q: n a study, the data you collect is the average weight of newborn babies in ounces. What is the…

A: The objective is to identify the scale of measurement used for average weight of newborn babies in…

Q: Classify the following variables according to their scale and continuity. home ownership status…

A: The level of measurement is describes the classification of the nature of information of the values…

Q: llustration 13.7. Construct the cost of living index number for the year 1966 from the following…

Q: Variable Name: Age Variable Definition: students' current age, reported by student Range: 17-100…

A: Nominal: A scale of measurement in which the ta values can be labeled or categorized. Ordinal: A…

Q: Indicate and justify whether each of the following measures uses a nominal, ordinal, interval or…

A: Indicate and justify whether each of the following measures uses a nominal, ordinal, interval or…

Q: Which can be classified as ordinal scale?

A: Ordinal level of measurement is used when there are categories which can be ordered.

Q: rade on Business Statistics Exam A: 90-100 B: 80-89 C: 65-79 D: 50-64 F: Below 50 Total Frequency 60…

A: It is given that a frequency distribution table.

Question

What is the level (or scale) of measurement for each variable? Nominal, ordinary, or ratio

WTO Status

Per Capita GDP

Trade Deficit

Fitch Rating

Fitch Outlook

Expert Solution

WTO Status

The variable "WTO status" can only take only two types of quantitative values without order which means this is an example of a dichotomous type of Nominal data.

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

In a study, the data you collect is Age in years.What is the level of measurement? nominal ordinal interval ratio
From the data given below compute quantity index for 1983 Price in 1982 (Rs.) 10 20 30 30 Quantity in 1982 100 150 200 150 Commodity 1983 150 200 250 200 ABCD
BASIC TECHNIQUES 1.10 Fifty people are grouped into four categories- A, B, C, and D-and the number of people who fall into each category is shown in the table: Category Frequency A 11 S В 14 C 20 a. What is the experimental unit? b. What is the variable being measured? Is it qualitative or quantitative? e? c. Construct a pie chart to describe the data. d. Construct a bar chart to describe the data. e. Does the shape of the bar chart in part d change depending on the order of presentation of the four categories? Is the order of presentation important? ES f. What proportion of the people are in category B, C, or D? g. What percentage of the people are not in cate- gory B?
The amount of money, in dollars, that a police department collects annually from drug asset forfeitures. Is this example a nominal, ordinal, interval, or ratio level measurement and why?
a. Account name b. Months in the calendar c. Average monthly savings d. Number of bank accounts e. None of the choices Based on the following choices/variables above, determine the ff: • measured in interval scale? • measured in ordinal scale? • quantitative discrete data? • quantitative continuous data?
What is the distinctive feature of nominal measurement?
I need help with this problem please
The EASEC conducted a survey on campus. Number of clubs, groups, teams, and organizations affiliated with on campus is an example of a numerical variable. Discrete Continuous Quantitative Ratio
Number of women in Palawan who died from heart disease in 2004 number of women in Palawan who died in 2004 Rate None of the Above Ratio Proportion
Construct a normal quantile-quantile plot of the values provided in the accompanying data set, which represent the diameters of 36 rivet heads in 1/100 of an inch. Click the icon to view the diameter data. Choose the correct graph below. A. Normal Quantile-Quantile Plot Normal Quantile-Quantile Plot 5.95- 5.85- 5.75- 5.65- 0.2 0.4 0.6 0.8 1 5.65 5.75 5.85 5.95 Theoretical Quantities Theoretical Quantities D. Normal Quantile-Quantile Plot Normal Quantile-Quantile Plot 5.95- 1- 5.85- 0.5- 5.75- • 000 0- 5.65- -2 5.95 -1 1 5.65 5.75 5.85 Theoretical Quantities Theoretical Quantities Diameter data 5.83 5.77 5.81 5.73 5.73 5.75 5.85 5.84 5.83 5.89 5.71 5.83 5.71 5.81 5.87 5.81 5.84 5.74 5.83 5.84 5.78 5.76 5.71 5.87 5.82 5.78 5.75 5.82 5.89 5.79 Help me solve this View an example Get m 5.71 5.85 5.85 5.78 5.76 5.71 C. Sample Quantities Sample Quantities B. Sample Quantities Sample Quantities of
The variable age is best described as: (choose the one best answer) Group of answer choices Categorical Neither Categorical nor Quantitative Both Categorical and Quantitative Quantitative
Classify the variables by the levels of measurement used. Explain your choice of the levels of measurement. Variable Level of Measurement Explanation 1. Household head 2. Sex 3. Age 4. Hours worked per week 5. Main type of work 6. Length of time at job 7. Years of secondary education 8. Examinations passed 9. Employment status 10. Income