Rating scale

Examples of Rating scale in the following topics:

• Solicit Information

  • Use direct observation of small audiences and use interviews, surveys and Likert rating scales to collect data about larger audiences.
  • There are several useful methods to consider, including: (1) direct observation of members of the potential audience, and (2) data collection through interviews surveys and rating scales for opinions.
  • You can use a Likert-type rating scale of attitudes.
  • When using a questionnaire or using rating scales it is wise to try them out on a small sample of your audience before you administer them to a large group.
  • Analyze your audience using direct observation, interviews, surveys, or Likert rating scales

• Levels of Measurement

  • A rating scale is more appropriate in this case (with labels like "very favorable," "somewhat favorable," etc.).
  • This makes the Kelvin scale a ratio scale.
  • Rating scales are used frequently in psychological research.
  • Typically these ratings are made on a 5-point or a 7-point scale.
  • For example, there is no way to be sure that a treatment that reduces pain from a rated pain level of 3 to a rated pain level of 2 represents the same level of relief as a treatment that reduces pain from a rated pain level of 7 to a rated pain level of 6.

• Economies and Diseconomies of Scale

  • In economics, returns to scale describes what happens when the scale of production increases over the long run when all input levels are variable (chosen by the firm).
  • Returns to scale explains how the rate of increase in production is related to the increase in inputs in the long run.
  • There are three stages in the returns to scale: increasing returns to scale (IRS), constant returns to scale (CRS), and diminishing returns to scale (DRS).
  • Returns to scale vary between industries, but typically a firm will have increasing returns to scale at low levels of production, decreasing returns to scale at high levels of production, and constant returns to scale at some point in the middle .
  • This graph shows that as the output (production) increases, long run average total cost curve decreases in economies of scale, constant in constant returns to scale, and increases in diseconomies of scale.

• Change of Scale

  • In order to consider a normal distribution or normal approximation, a standard scale or standard units is necessary.
  • In order to consider a normal distribution or normal approximation, a standard scale or standard units is necessary.
  • In the simplest cases, normalization of ratings means adjusting values measured on different scales to a notionally common scale, often prior to averaging.
  • Normalization can also refer to the creation of shifted and scaled versions of statistics, where the intention is that these normalized values allow the comparison of corresponding normalized values for different datasets.
  • Explain the significance of normalization of ratings and calculate this normalization

• Solving Problems with Logarithmic Graphs

  • The fact that the rate is ever-increasing (and steeply so) means that changing scale (scaling the axes by 5, 10 or even 100) is of little help in making the graph easier to interpret.
  • Here are some examples of functions graphed on a linear scale, semi-log and logarithmic scales.
  • The top left is a linear scale.
  • The top right and bottom left are called semi-log scales because one axis is scaled linearly while the other is scaled using logarithms.
  • Top Left is a linear scale, top right and bottom left are semi-log scales and bottom right is a logarithmic scale.

• Few Sellers

  • An oligopoly - a market dominated by a few sellers - is often able to maintain market power through increasing returns to scale.
  • One source of this power is increasing returns to scale.
  • Increasing returns to scale is a term that describes an industry in which the rate of increase in output is higher than the rate of increase in inputs.
  • Most industries exhibit different types of returns to scale in different ranges of output.
  • Explain how increasing returns to scale will cause a higher prevalence of oligopolies

• Mortality

  • Mortality rate is a measure of the number of deaths (in general, or due to a specific cause) in a particular population, scaled to the size of that population, per unit of time.
  • This measure is also called the crude death rate.
  • To more accurately estimate mortality rates, demographers calculate age and gender specific mortality rates.
  • These rates are compiled in a life table, which shows the mortality rate separate for each age group and gender.
  • Explain the various ways mortality is calculated, such as the crude death rate, infant mortality rate and life expectancy

• Economies of Scale and Network Externalities

  • Economies of scale and network externalities discourage potential competitors from entering a market.
  • Economies of scale and network externalities are two types of barrier to entry.
  • Economies of scale are also gained through bulk-buying of materials with long-term contracts, the increased specialization of managers, ability to obtain lower interest rates when borrowing from banks, access to a greater range of financial instruments, and spreading the cost of marketing over a greater range of output.
  • A natural monopoly arises as a result of economies of scale.
  • Define Economies of Scale., Explain why economies of scale are desirable for monopolies

• International Credit Rating Agencies

  • Scale uses Roman numerals and ranges from I to V with I being the lowest risk while V being the highest risk.
  • Table 2 shows a country's rating for 2012.
  • Table 3 shows Coface's 2012 rating of countries.
  • Finally, Coface compiles a similar ranking scale for countries' business climate.
  • Best's Five-Tier Scale for Country Risk for 2012

• Other Scales

  • Some, like pentatonic and octatonic scales, have fewer or more notes per octave, but many have seven tones, just as a major scale does.
  • For example, one class of scales that intrigues some composers is symmetrical scales.
  • The chromatic scale and whole tone scales fall into this category, but other symmetrical scales can also be constructed.
  • Often the name of a scale simply reflects what it sounds like to the person using it, and the same name may be applied to different scales, or different names to the same scale.
  • Like chromatic and whole tone scales, a diminished scale is "symmetrical".