A company was studying the demographics of their customers. As part of the study they collected the following variables: gender, marital status, credit rating (low, medium, high), annual income, and age. Label the variable credit rating as qualitative or quantitative, discrete or continuous, and nominal, ordinal, interval, or ratio.
A) qualitative, continuous, nominal
B) qualitative, discrete, ordinal
C) quantitative, discrete, nominal
D) quantitative, continuous, ratio

Question

Quizplus · Accepted Answer

Credit rating is a qualitative variable because it is a category, not a numerical value. It is discrete because there are only a finite number of options (low, medium, high). It is ordinal because there is a natural order to the categories (low < medium < high).

A Company Was Studying the Demographics of Their Customers