Business Finance Homework Help

Construct 4 additional pages for your course project (title page not counted):

Decide which measurement scale will work the best for your project
and the criteria needed for effective evaluation using this scale,
including accounting for errors. Select at least two measurement errors
that may be a concern using the chosen scale and construct how the
project will account for them. Create these pages:

• Background Material
• Limitations

· 
In
this week’s assignment you will want to write on any background information
that is relevant to your research. This would be based on your company. The
next part of the assignment is for you to state the exact measurement scales
you are going to utilize. (The Measurement Scales are listed below) Then you
will want to explain why you would want to utilize this scale(s) and then
possible limitations you may have (need to use sample size due to budget
constraints). Once you have explained your scale(s) you will want to explain
possible errors that may occur. What will you do to account for these possible
errors?

· 
Nominal
comes from the Latin root nomen,
meaning name. A nominal
scale only identifies (or “names”) the variable. A good example is
asking participants if they are “male” or “female”.

· 
The ordinal
scale measures the nominal scale plus an order.
An example is a question that asks for an opinion and gives choices such as
“completely agree”, “mostly agree”, “neutral”,
“mostly disagree”, “completely disagree”.

· 
An “interval”
is the space between
two things. Interval scales describe nominal and ordinal values plus the amount
between each item. A good example is found on a thermometer. The temperature is
scaled at regular intervals, whether one degree or ten degrees apart.

· 
A ratio
uses the qualities of nominal, ordinal, and interval scales, but also includes
an absolute zero (a point where none of the quality being measured
exists).Variables like height and weight are examples of ratio variables.
Temperature cannot be a ratio variable because a temperature of 0 does not mean
“no temperature”.