Get ready for the GARP Risk and AI Exam with flashcards and multiple choice questions. Each question comes with hints and explanations. Prepare for success!

Multiple Choice

Can be continuous (income, age) or discrete (number of emails received).

Numerical data describes quantities that can be measured on a numeric scale and supports arithmetic. It includes continuous variables like income or age, which can take any value within a range, and discrete variables like the number of emails received, which take whole-number values. That combination fits the description precisely. Nominal data are categories without numeric ordering, and ordinal data have a natural order but are still categorical. Structured data refers to how data is organized, not whether it is numeric or categorical.

Numerical data describes quantities that can be measured on a numeric scale and supports arithmetic. It includes continuous variables like income or age, which can take any value within a range, and discrete variables like the number of emails received, which take whole-number values. That combination fits the description precisely. Nominal data are categories without numeric ordering, and ordinal data have a natural order but are still categorical. Structured data refers to how data is organized, not whether it is numeric or categorical.