Explain the difference between ordinal data and interval data. ...

[vicotolentino]

Explain the difference between ordinal data and interval data.

Question 2

If the goal for the regression analysis is simply to predict the value of the dependent variable based on a set of predictor variables, we need not worry about ___________________ _, which means that some of the predictor variables might be highly correlated with each other.
 Fill in the blank(s) with correct word

[vboyd24]

Answer to Question 1

The critical difference between them is that the intervals or differences between values of interval data are consistent and meaningful. That is, we can calculate the difference and interpret the results. Because the codes representing ordinal data are arbitrarily assigned except for the order, we cannot calculate and interpret differences.

Answer to Question 2

multicollinearity

[vicotolentino]

Wow, this really help

[scottmt]

Thanks for the timely response, appreciate it