A property and casualty insurance company would like to classify its policyholders into three categories: low, medium, and high. Which measurement level does this risk variable fall into?
A) ratio
B) nominal
C) ordinal
D) interval

Question

Quizplus · Accepted Answer

The classification of policyholders into low, medium, and high categories represents an ordinal measurement level because it implies a ranking or order among the categories without specifying the exact differences in risk between them.

A Property and Casualty Insurance Company Would Like to Classify