Assessment 1 – calculations and short written responses (20%)INSTRUCTIONSPerform the required calculations, present your findings, and prepare short written responses to the following...

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Answered Same DayJul 25, 2021ACC73002Southern Cross University

Answer To: Assessment 1 – calculations and short written responses (20%)INSTRUCTIONSPerform the required...

Pooja answered on Jul 26 2021
146 Votes
1)
a)
A variable which has an infinite number of possible values or whose values can be measured is ref
erred to as continuous variables. 
Income is considered as a continuous variable. It can take infinite number of possible values.
b)
‘What is your income (in thousands of dollars)’ is measured by the ratio scale of measurement
‘Place an X in the circle corresponding to your income group’ is measured by the nominal scale of measurement as it is categorical in nature.
A higher level of measurement is given by the ‘What is your income (in thousands of dollars).’ Suppose an income of an individual is 63500$. In Case of ‘Place an X in the circle corresponding to your income group’, he will mark income range of “>$60,000”. But in case of ‘What is your income (in thousands of dollars)’, he will mention 63500$.
c)
A greater rate of response is expected for ‘Place an X in the circle corresponding to your income group’. This is easier to mark and approximations are valid here, which doesn’t require any specific calculations for the...
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