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 annual income as qualitative or quantitative, discrete or continuous, and nominal, ordinal, interval, or ratio.
A) qualitative, discrete, nominal
B) qualitative, continuous, Ordinal
C) quantitative, discrete, nominal
D) quantitative, continuous, ratio

Question

Quizplus · Accepted Answer

Annual income is a quantitative variable because it can be measured and counted. It is also continuous because it can take on any value within a range (e.g. $50,000.00, $50,000.01, $50,000.02, etc.). Finally, it is a ratio variable because it has a true zero point (i.e. $0.00 income is possible).

A Company Was Studying the Demographics of Their Customers