2. Although only one level of measurement typically is associated with a given variable, it is...
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2. Although only one level of measurement typically is associated with a given variable, it is frequently possible to measure a variable at more than one level. For example, while the variable "age" generally is measured at the ratio level, one could also measure age at the ordinal level by placing respondents in one of the following age categories: under 20 years, 20-39, 40-59, 60 and over. How might you measure the variable "income" (i.c., what categories would you establish) if you treated it as (a) an ordinal variable and (b) a ratio variable? (4 pts) An example of a nominal variable of income: (a) An ordinal variable of income: (b) A ratio variable of income: 3. For each of the following variables, (1) indicate whether the list of categories is exhaustive and/or mutually exclusive. Then (2) indicate, where necessary, the changes or additions to the list of categories that would have to be made to be both exhaustive and mutually exclusive (6 pts). (a) Income: $3,000-7,999; $8,000-11,999; $12,000-14,999; $15,000 24,999; $25,000 and over (b) Employment status: working full-time; working part-time; student; housewife; unemployed (c) Age: under 18 years; 18-30 years; 30 years and over 2. Although only one level of measurement typically is associated with a given variable, it is frequently possible to measure a variable at more than one level. For example, while the variable "age" generally is measured at the ratio level, one could also measure age at the ordinal level by placing respondents in one of the following age categories: under 20 years, 20-39, 40-59, 60 and over. How might you measure the variable "income" (i.c., what categories would you establish) if you treated it as (a) an ordinal variable and (b) a ratio variable? (4 pts) An example of a nominal variable of income: (a) An ordinal variable of income: (b) A ratio variable of income: 3. For each of the following variables, (1) indicate whether the list of categories is exhaustive and/or mutually exclusive. Then (2) indicate, where necessary, the changes or additions to the list of categories that would have to be made to be both exhaustive and mutually exclusive (6 pts). (a) Income: $3,000-7,999; $8,000-11,999; $12,000-14,999; $15,000 24,999; $25,000 and over (b) Employment status: working full-time; working part-time; student; housewife; unemployed (c) Age: under 18 years; 18-30 years; 30 years and over
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Related Book For
Managerial Economics
ISBN: 978-0133020267
7th edition
Authors: Paul Keat, Philip K Young, Steve Erfle
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