Question

A popular travel magazine regularly reviews hotels worldwide. In a recent issue, it focused on hotels in Hawaii. Among the variables for which it provided data was the price range for rooms with an ocean view. Which of the following statements is true?Select one:

A. This variable is qualitative and ordinal.
B. This variable is quantitative and the units are $.
C. This variable is quantitative and the units are number of rooms.
D. These data are time series.
E. These data are transactional.

Answer 1

Answer: Option B . Variable is quantitative and the units are $

Explanation:

Qualitative property and quantitative property can be understood with this simple example (The are 5 red and 3 green T-shirts in the box).

The property that deals with numbers or quantity is called quantitative property.In the example 5, 3 are quantitative properties describing the number of T-shirts in the box.

The property which tells us the nature of an item in terms of color, behavior, shape etc is called qualitative property. In the example red and green are qualitative properties since they tell us about color.

Now from the question the variable which was given is the price of rooms with ocean view. Price as a variable is quantitative as it refers to numbers in a particular currency. Option C is wrong as the unit of price is not number of rooms.

For option B. the currency stated there is $ which is a price unit and it also says the variable is quantitative, hence option B is correct

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