Compare and contrast Stevens' four scales of measurement. Explain when each type of scale should be used, such as the nominal scale, ordinal scale, the interval scale and ratio scale. Please provide sources.
The nominal scale of measurement is used whenever the variable being measured or observed contains labels or names to identify it from the other variables being measured. An example of a nominal scale would be AMEX, NASDAQ, and FTSE to identify where a particular stocks is traded in.
The ordinal scale of measurement is used for variables that have all the properties of a nominal ...
This solution outlines various scales of measurement.