Nominal Scales are categories that specifically identify the data

Nominal Scales

Week 7 Assignment

This is a two-part assignment.  Your analysis will be recorded in the Discussions tab for Week 7.

Nominal Scales are categories that specifically identify the data.  Monotonic relationships are ones in which the researcher can assign only a general direction to the association between the two variables.  There are two types of monotonic relationships:  increasing and decreasing.  Monotonic increasing relationships are those in which as one variable increases, the other variable increases.  Monotonic decreasing relationships are those in which one variable increases, the other variable decreases.  In neither case is there any indication of the exact amount of change in one variable as the other changes.  “Monotonic” means that the relationship can be described only in a general directional sense.  Beyond this, precision in the description is lacking.

I would like you to create a chart for the following situation and indicate if the monotonic relationships listed below are increasing or decreasing as it relates to the sales price.

 

In early August, in Harrisburg, Pennsylvania, Mecum Auctions will be auctioning this 1968 Chevrolet Chevelle Based on several variables, I am estimating that this vehicle’s value is in the upper $40,000 range ($45,000-$48,000)   I would like you to investigate recent sales of 1968 Chevelles and determine if the following listed monotonic relationships are increasing or decreasing based on the sales price.  For example, will buyers pay more for Chevelles if they had a hardtop or a convertible?

 

RELATIONSHIPS:

  • Hardtop
  • Convertible
  • Automatic Transmission
  • Manual Transmission
  • 396 cubic inch/375 hp (horse power) big block V8

 

You can view recent sales of Chevrolet Chevelles at the following websites: (You may need to provide your name and email to access the results of auctions)

RM Sothebys

Mecum Auctions

Barrett-Jackson

Ebay Motors (You must first search for the vehicle and then check the “completed listings” box to see sold vehicles)

Submit a 2-3 paragraph synopsis of your results along with a chart of your results on Week 7’s Discussion Board and respond to 3 classmates.

You chart describing your outcome should be submitted in this assignment.

 

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