Morningstar Mutual Funds analyzes the risk and performance of mutual funds.Each mutual fund is assigned an overall rating of one to five stars.One star is the lowest rating, and five stars is the highest rating.This level of measurement is __________.
A)ordinal level
B)interval level
C)nominal level
D)ratio level
E)relative level

Question

Quizplus · Accepted Answer

The rating system of one to five stars represents an ordinal level of measurement because it categorizes mutual funds into ordered groups based on their performance and risk, without indicating the exact difference in performance between the ratings.

Morningstar Mutual Funds Analyzes the Risk and Performance of Mutual