Freshman, sophomore, junior, or senior would be examples of ________ data.
A) nominal
B) ordinal
C) interval
D) ratio
Question 2
Suppose you are interested in modeling the amount of money a household spends for a house. We would expect income to be a determining factor.
In addition, the income tax rate for a household might be important since there are tax advantages to home ownership. If you were to run a regression of home purchase price on income and marginal tax rate, your results might be subject to: A) multicollinearity.
B) heteroscedasticity.
C) specification bias.
D) autocorrelation.