Discover the definition of ordinal data, nominal data, nominal variable, levels of measurement, and examples showing how ordinal and nominal data is analyzed.

Levels of measurement: nominal, ordinal, interval, and ratio. Learn what the scales of measurement are and see nominal, ordinal, interval, and ratio examples.

Learn what discrete, continuous, and categorical variables are. Also, learn the comparison of each alongside examples for each type of variable.

Understand what quantitative variables and qualitative variables in statistics are. Learn how qualitative and quantitative variables are categorized with examples.

Learn how to classify qualitative variables with our informative video lesson. See examples of this fundamental concept in data analysis, along with a quiz.

Nominal Variable: When the data is qualitative i.e. non-numeric and just categorizes the values, it is known as a Nominal variable. Like, Gender: Male or Female, Response: Yes or No, Color: …

The classical school of economics proposes that the real and nominal variables can be evaluated in isolation from each other. This idea is known as the classical dichotomy, which suggests …

Categorical Variables: In research, categorical variables refer to qualitative variables that define an attribute of a person or a thing. Categorical variables can be divided into two main types of …

Which scale of measurement is most appropriate for the following variables - nominal, or ordinal? a) Political party affiliation (Democrat, Republican, unaffiliated).

Answer to: A nominal variable, such as the inflation rate or the money supply, which ties down the price level to achieve price stability is called...