"nominal value" vs "nominal data"

Question

"nominal value" vs "nominal data"

Both 'nominal data' and 'nominal value' are correct phrases, but they are used in different contexts. 'Nominal data' refers to data that is categorized into distinct groups or categories without any specific order, while 'nominal value' typically refers to a specific numerical value that is named or labeled. Therefore, the choice between the two depends on whether you are referring to data or a specific value.

Last Updated: March 24, 2024

Use 'nominal value' when referring to a specific numerical value that is assigned a name or label, such as the face value of a bond or the stated value of a currency.

Examples:

The nominal value of the company's shares was $1 per share.
The bond's nominal value was $1,000.

Alternatives:

face value
stated value
par value
assigned value
named value

Use 'nominal data' when referring to data that is qualitative and categorical, such as colors, types, or names, without any inherent order or ranking.

Examples:

The survey responses were coded as nominal data for analysis.
In the study, participants were asked to indicate their favorite color, which was treated as nominal data.

Alternatives:

categorical data
qualitative data
discrete data
non-numeric data
unordered data

Answer 1

nominal value

This phrase is correct and is commonly used to refer to a specific numerical value that is named or labeled, often in the context of finance or accounting.

Answer 2

nominal data

This phrase is correct and commonly used in statistics to refer to data that is categorized into distinct groups or categories without any specific order.

"nominal value" vs "nominal data"

nominal value

nominal data

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