BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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ordinal
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nominal
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categorical
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ratio
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Detailed explanation-1: -Nominal data are used to label variables without any quantitative value.
Detailed explanation-2: -Although categorical data is qualitative, it can also be calculated in numerical values. However, these possible values don’t have quantitative qualities-meaning you can’t calculate anything from them. Categorical data may also be classified as binary and nonbinary depending on its nature.
Detailed explanation-3: -Data collected about a numeric variable will always be quantitative and data collected about a categorical variable will always be qualitative. Therefore, you can identify the type of data, prior to collection, based on whether the variable is numeric or categorical.
Detailed explanation-4: -Nominal data is qualitative or categorical data, while Ordinal data is considered “in-between” qualitative and quantitative data. Nominal data do not provide any quantitative value, and you cannot perform numeric operations with them or compare them with one another.
Detailed explanation-5: -Categorical Data Variables Sometimes called a discrete variable, it is mainly classified into two (nominal and ordinal).