A continuous distribution must have an infinite number of values between $0.00 and $0.01. Money does not have this quality; there is always an indivisible unit of smaller money. And as such, money is a discrete entity.
Are currencies discrete or continuous data?
go on. I would say money is continuous and money is discrete. A variable whose value can be determined by counting is called a discrete variable. Discrete Data.
Is the annual salary discrete or continuous?
A person’s annual income is a discrete variable. Because there are so many prices for it, it can usually be said to be constant, but people are (usually) paid in percentages to two decimal places, and annual income is usually given in thousands or hundreds at most.
Is price a discrete or continuous variable?
Price is a continuous variable as it can increase or decrease. For example, its lowest unit of measurement is a cent. Even other continuous variables have the lowest units of measure, not just price. Hm, I thought the definition of continuous was that there could be infinitely many values between two values.
Is age continuous or discrete?
We could be infinitely precise and use infinitely many decimals, making the age continuous. For everyday devices, however, all values less than 6 years and greater than 5 years are referred to as 5 years. We therefore use age generally as a discrete variable. 25
Are real estate prices discrete or continuous data?
Technically it is discreet. It’s a set of rational numbers. Now, when the denominator becomes large enough (eg, 140 credit hours), or when we compare students with different numbers of credit hours, the distribution can appear continuous at the level of precision with which it is usually tracked (2 decimal places).