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#reading-8-statistical-concepts-and-market-returns
Measurements on an ordinal scale are categorized.
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Subject 2. Measurement Scales
ually used to analyze data measured on a nominal scale. The main statistic computed is the mode. Variables measured on a nominal scale are often referred to as categorical or qualitative variables. Ordinal Scale <span>Measurements on an ordinal scale are categorized. The various measurements are then ranked in their categories. Measurements with ordinal scales are ordered with higher numbers representing higher values. The intervals between the numb


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