1. A clothing store is analyzing merchandise prices to help make decisions on what to charge for clothing on clearance. The store owner collects data on the price value (in dollars) of articles of clothing that are on sale/clearance throughout the seasons. What type of variable and level of measurement the owner is looking at?
2. Quantitative variable, ordinal variable
3. Quantitative variable, ratio variable
4. Quantitative variable, interval level of measurement
5. Categorical variable (qualitative), nominal level of measurement