CFA Practice Question

There are 410 practice questions for this study session.

CFA Practice Question

The following chart illustrates the breakdown of a survey of 300 bachelors, living in Florida, as to their favorite fast food restaurant.

Favorite Fast Food Restaurant
Burger King ================= 51
Hardee's =============== 45
McDonald's ====================== 66
Taco Bell ========== 30
Wendy's ============================ 84
Other ======== 24

What level of data is the number of bachelors?

A. ratio
B. nominal
C. ordinal
Correct Answer: A

User Contributed Comments 19

User Comment
ReaClute Is this right? I answered ordinal.
peter It's right as you can compute ratios of these numbers.
Gina no way. this data is categorical, hence answer nominal. there is no relation (like rank) between the variables let's say burger king and taco bell. try to imagine how you would plot this (or any) data in a graph, and what meaning you can make out of it.
Iyal So ratio or nominal?
stefdunk it's ratio. wendy's has more than twice as many as taco bell. you can plot this as a bar chart, and there is an absolute zero. We're counting an exact number of people here.
rmiter i think answer is nominal
yanpz I think it's ratio, because the numbers 51, 45, etc represent the number of persons surveyed pick the coresponding restaurant, so it's absolute number with a possible zero. If it's zero, it means nobody pick that restaurant. So it's ratio.
orfeus d, ratio scale, doesnt matter that scale consists of integers only
orfeus thus ratio should be correct.
mtcfa It's ratio by all means: the data represent bachelors and are separated by the same interval (1 in this case); and there is an absolute zero.
bwbarksdale it's a ratio scale because, for example, you could say that the results of the sample say that people like wendy's 2.8 times as much as taco bell (84/30=2.8); intervals are equal and there is a true zero point.
studyprep Those who think it is nominal, must see its definition again. In nominal type category, you can only put type of things. e.g. in restaurant A Seniors and in restaurant B Younger. or Type 1 growth Stocks and Type 2 Value stocks, and so on.
ratio is the correct answer. E.g. if in Restaurant A 200 people this month and in Restaurant B 300 people this month. this is ratio.. you know total people = 500 and you can find the ratios for each restaurant goers.
hannovanwyk The answer is most definitely ratio. all the explanations for ratio above is correct.
Larkin right
safash who ever said nominal is really asking for repetation of this reading again!!
2014 Its Frequency distribution guys Nominal
2014 Ratio too can be frequency distribution sorry
khalifa92 ratio, true zero exists with equal intervals between variables.
mcbreatz I think its just a matter of reading the question. "What level of data is the number or bachelors?" You can have 0 bachelors. 2 Bachelors is twice as many as 1. The rest of the question is a distraction.
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