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#reading-8-statistical-concepts-and-market-returns
Ordinal Scale

On a 5-point rating scale measuring attitudes toward gun control, the difference between a rating of 2 and a rating of 3 may not represent the same difference as that between a rating of 4 and a rating of 5.
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Subject 2. Measurement Scales
measurements are then ranked in their categories. Measurements with ordinal scales are ordered with higher numbers representing higher values. The intervals between the numbers are not necessarily equal. Example 1 <span>On a 5-point rating scale measuring attitudes toward gun control, the difference between a rating of 2 and a rating of 3 may not represent the same difference as that between a rating of 4 and a rating of 5. Example 2 Two categories might be value and growth. Within each category, the portfolio managers measured will be weighted according to performance on a scal


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