Question

Previous loan payments of $376 is what type of variable? A. Numerical, continuous, ratio B. Categorical, nominal C. Numerical, discrete, interval D. Numerical, continuous, interval E. Categorical, ordinal F. Numerical, discrete, ratio

Answer 1

F. Numerical, discrete, ratio

Explanation:

Data can be classified into two large categories:

1. categorical X
2. numerical ✔

Since this data refers to an exact number, $376, it is numerical data.

Numerical data can be classified as:

1. Discrete ✔
2. Continuous X
3. Interval X
4. Ratio ✔

Since the data's values are distinct and separate, it is discrete data. It specifically refers to $376.

Money is measured in ratio scales because a zero $ exists. When you have $0, you have no money.