Name That Variable! – ABM Edition

What type of business are you most interested in—food, retail, tech, or services?

• Nominal

• Ordinal

• Interval

• Ratio

Rate your satisfaction with the customer service:

• Nominal

• Ordinal

• Ratio

• Interval

What was the average temperature in your target market last month?

• Ratio

• Ordinal

• Interval

• Nominal

How much are you willing to invest in your startup capital?

• Ordinal

• Ratio

• Nominal

• Interval

You want to study whether increasing your social media advertising budget improves monthly sales. What is the independent variable?

• Social media advertising budget

• Monthly sales

• Business type

• Customer feedback

In that same study, what is the dependent variable?

• Advertising strategy

• Monthly sales

• Type of social media

• Target market

You rank five stores based on monthly profit from highest to lowest. What type of variable is this?

• Nominal

• Ordinal

• Ratio

• Interval

How does identifying the right variable help you make better business decisions?