What type of variable is sales volume?

Question

BlackTom AI · Accepted Answer

When analyzing the nature of sales volume, it is typically treated as a numeric measurement that can take on an infinite number of values within a given range, such as 1500.5 units or 3000 units, depending on granularity. This makes it a continuous variable because it can be measured with arbitrary precision and exhibits fractional values.
Option 1: 'continuous variable' — This is the correct characterization. It aligns with the idea that sales volume is a quantitative measure that can take on a full spectrum of numeric values, not limited to fixed steps.
Option 2: 'independent variable' — While sales volume could be used as an independent variable in some analyses, being an independent variable is not a defining type of the variable itself. A variable can be continuous or categorical regardless of whether it is used as a predictor.
Option 3: 'categorical variable' — This would imply that sales volume falls into distinct groups (e.g., low/medium/high) or categories without numeric continuity. In contrast, actual sales volume is a numeric measure that can vary smoothly, so labeling it as categorical would be inappropriate for most analyses.
Option 4: 'classificatory variable' — This term is less standard in modern statistics and often overlaps with categorical variables. It does not correctly describe the numeric, measurable nature of sales volume as a continuous quantity.

MKTG1047 Chapter 2

What type of variable is sales volume?

View Explanation

Log in for full answers

Similar Questions

Which of the following pairs correctly distinguishes between a categorical and a measured variable?

Which of the following is a nominal variable?

What type of variable is alcohol consumption?

What type of variable is alcohol consumption?

The variables number of cars owned and car size (small, medium, large) are:

The parallel boxplots shown display thedistribution of battery life (in hours) for twobrands of batteries (brand A and brand B). The variables battery life and brand are:

The parallel boxplots shown display thedistribution of battery life (in hours) for twobrands of batteries (brand A and brand B). The variables battery life and brand are:

More Practical Tools for International Students

Exam Browser Assistant

Stylized Writing Assistant

Plagiarism Checker Assistant

Citation Assistant

In-Class Translation Assistant

Class Notes Assistant

Quiz Search Assistant

Past Exam Questions by School

Smart Practice Assistant

Adaptive Practice

Making Your Study Simpler