describe various scales of measurement provide two examples of each .pdf

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Describe two ways in which equity capital reduces a bank Solution Equity Capital may be defined as the money invested by the investors which is not repaid in the normal course of business. It may also be the risk capital which is staked by the owner by purchasing the company.

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describe various scales of measurement provide two examples of each scale.
Solution
Measurement scales are used to categorize and/or quantify variables. This lesson describes the
four scales of measurement that are commonly used in statistical analysis: nominal, ordinal,
interval, and ratio scales.
Each scale of measurement satisfies one or more of the following properties of measurement.
The nominal scale of measurement only satisfies the identity property of measurement. Values
assigned to variables represent a descriptive category, but have no inherent numerical value with
respect to magnitude.
Gender is an example of a variable that is measured on a nominal scale. Individuals may be
classified as "male" or "female", but neither value represents more or less "gender" than the
other. Religion and political affiliation are other examples of variables that are normally
measured on a nominal scale.
The ordinal scale has the property of both identity and magnitude. Each value on the ordinal
scale has a unique meaning, and it has an ordered relationship to every other value on the scale.
An example of an ordinal scale in action would be the results of a horse race, reported as "win",
"place", and "show". We know the rank order in which horses finished the race. The horse that
won finished ahead of the horse that placed, and the horse that placed finished ahead of the horse
that showed. However, we cannot tell from this ordinal scale whether it was a close race or
whether the winning horse won by a mile.
The interval scale of measurement has the properties of identity, magnitude, and equal intervals.
A perfect example of an interval scale is the Fahrenheit scale to measure temperature. The scale
is made up of equal temperature units, so that the difference between 40 and 50 degrees
Fahrenheit is equal to the difference between 50 and 60 degrees Fahrenheit.
With an interval scale, you know not only whether different values are bigger or smaller, you
also know how much bigger or smaller they are. For example, suppose it is 60 degrees
Fahrenheit on Monday and 70 degrees on Tuesday. You know not only that it was hotter on
Tuesday, you also know that it was 10 degrees hotter.
The ratio scale of measurement satisfies all four of the properties of measurement: identity,
magnitude, equal intervals, and a minimum value of zero.
The weight of an object would be an example of a ratio scale. Each value on the weight scale has
a unique meaning, weights can be rank ordered, units along the weight scale are equal to one
another, and the scale has a minimum value of zero.

Weight scales have a minimum value of zero because objects at rest can be weightless, but they
cannot have negative weight.

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