sgupta0827

Hi KSTHANE

You've got it backwards, height is a Ratio and temperature is an Interval. Check out reading 7, in Schweser they provide a good definition of each.

Ratio is similar to Interval, except that it has a "true zero". I know that there is a temperature = 0, but whats the difference between a temperature of +1 and -1, just a little colder. Whereas a difference between +1 and -1 with cash is two different states, one you have money and the other you owe money (the same can be said with height, speed etc).

Nominal scale – observations are classified with no attention to their order/ sequence.
Ordinal scale – observations are ordered with respect to a particular characteristic.
Interval scale – difference between observation scales are equal (e.g. temperature).
Ratio scale – most refined, provides equal distance between scale values and a true zero (e.g. cash).

Cheers