BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -An interval measurement is data that is grouped in evenly distributed values and measured based on the group to which the variable is attributed. In other words, interval data is measured in groups, rather than individually.

Detailed explanation-2: -Ordinal: the data can be categorized and ranked. Interval: the data can be categorized and ranked, and evenly spaced.

Detailed explanation-3: -What is the interval level? The interval level is a numerical level of measurement which, like the ordinal scale, places variables in order. Unlike the ordinal scale, however, the interval scale has a known and equal distance between each value on the scale (imagine the points on a thermometer).

Detailed explanation-4: -Ratio data has a defined zero point. Ratio data can be transformed using logarithms, square roots, etc. to create ‘normal’ data. Interval data lacks the absolute zero point, which makes direct comparisons of magnitude impossible (e.g. A is twice as large as B).

Detailed explanation-5: -An interval variable is a one where the difference between two values is meaningful. The difference between a temperature of 100 degrees and 90 degrees is the same difference as between 90 degrees and 80 degrees.