Which of the following variables would be classified as quantitative?

The classification of variables into qualitative and quantitative categories is fundamental in data analysis, and understanding this distinction is crucial for interpreting data effectively. In this case, the variable classified as quantitative is price.

Quantitative variables represent measurable quantities that can be expressed numerically. They lend themselves to statistical analysis, allowing for calculations such as means, medians, and standard deviations. Price fits this definition as it is a numeric value that indicates the cost of goods or services, enabling comparisons and mathematical operations.

On the other hand, the other variables mentioned are not quantitative. An identifier number is typically used for organizational purposes and does not convey any measurable quantity. A category is a qualitative variable that groups items based on shared characteristics but does not have numerical value. Similarly, a product refers to a specific item or service but is also qualitative in nature, as it describes what something is rather than how much of it there is in numerical terms. This distinction between numerical values and categorical or label-based variables is critical in fields such as statistics and data analysis, where the type of data determines the appropriate methods for analysis.