An example of an ordinal scale is executive title. Corporate executives can be ranked as assistant...

An example of an ordinal scale is executive title. Corporate executives can be ranked as assistant vice president, vice president, senior vice president, and president. A vice president is ranked higher than an assistant vice president, a senior vice president is ranked higher than a vice president, and so on. Find a couple more examples of business geared ordinal ranking and explain thoroughly utilizing references

Solutions

Expert Solution

Dear student, please comment in the case of any doubt and I would love to clarify it.

A categorical variable (sometimes called a nominal variable) is one that has two or more categories, but there is no intrinsic ordering to the categories. For example, gender is a categorical variable having two categories (male and female) and there is no intrinsic ordering to the categories.

An ordinal variable is similar to a categorical variable. The difference between the two is that there is a clear ordering of the variables. For example, suppose you have a variable, economic status, with three categories (low, medium, and high).

Examples of business geared ordinal ranking can be the income level(“less than 50K”, “50K-100K”, “over 100K”), employees can be ranked according to their income.

They can be categorized on the basis of satisfaction rating (“extremely dislike”, “dislike”, “neutral”, “like”, “extremely like”). How satisfied is an employee at his/her office is a crucial thing to know.

They can be categorized on the basis of education level (“high school”,” BS”,” MS”,” Ph.D.”) also, how educated they are can be a factor too.

orchestra answered 1 year ago

Next > < Previous

Related Solutions

Give one example (not listed in the textbook) for each scale of measurement (nominal, ordinal, interval,...

Give one example (not listed in the textbook) for each scale of measurement (nominal, ordinal, interval, ratio). Come up with a relationship that you think exists between 2 variables. How would you study that using a correlation study? How would you study the relationship from b. using an experiment? Make sure to identify the independent and dependent variables in your study.

A scale can be reliable and yet not valid. Provide an example of such a scale...

A scale can be reliable and yet not valid. Provide an example of such a scale that is different than the one found in the text. Remember that a scale means a type of measure such as personality inventory, a skills inventory, a norming chart. DO NOT PROVIDE AN EXAMPLE OF A SCALE THAT WEIGHS SOMETHING (can you tell that many students have done that in the past?). Include in your answer why you selected or created this particular example.

How can the "Corporate Governance" positively influence the executives behavior, to reduce their self interest? Does...

How can the "Corporate Governance" positively influence the executives behavior, to reduce their self interest? Does "positive psychology" really works better than strict rules and regulations? Should executives/ CEO's compensations be that high, even if the company is not performing that well? Please answer the question in details!

Can you think of an example where a company reached diseconomies of scale and had to...

Can you think of an example where a company reached diseconomies of scale and had to pull in their operations and downsize? Do you think that a company can adequately plan to avoid reaching the point of diseconomies of scale? Are there benchmarks that can be used in certain industries (i.e. in healthcare economies/diseconomies of scale are benchmarked)?

A large-scale corporate bakery needs to determine how many of their three bestselling products they can...

A large-scale corporate bakery needs to determine how many of their three bestselling products they can make each day. Their bagels require 9 minutes to prepare, 22 minutes to bake, and 6 minutes to wrap. Their lemon bars require 12 minutes to prepare, 24 minutes to bake, and 8 minutes to wrap. Their sourdough loaves require 15 minutes to prepare, 28 minutes to bake, and 8 minutes to wrap. Across all of their employees’ labor-hours per day, they have 80...

Subjects