What is the data type of the following data

label Statistics
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

$20 $40 $40 $20 $60 $80 $40 $40 $60 $80 $100 $40 $40 $20 $40

May 21st, 2015

So this type of data set is quantitative, as it is numeric. We can also further classify it as discrete or continuous. Discrete data has a finite number of values (Ex. Must be whole numbers for people: 1,2,3,4) and continuous data has an infinite set of values (1.14, 1.141, 1.1411...). In the case of money, I would assume you can only round to the hundredths point value (cents), making it a discrete quantitative set of data. 

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May 21st, 2015

what would you say the level of measurement is?

May 22nd, 2015

I would say it is a ratio variable, as the data can be measured by a fixed scale and has an absolute zero that is meaningful. I can say that the set value of $80 is four times higher than the value of $20, unlike interval ratios.

May 22nd, 2015

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May 21st, 2015
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