Psychographic Variables Are Related to Visible Characteristics of the Market

question 45

True/False

Psychographic variables are related to visible characteristics of the market such as age and gender.

---

Definitions:

Standard Time

The amount of time allowed for the completion of a job or task based on average speed under normal conditions.

Variable Allowance

An adjustment in cost or time estimates to accommodate changes or variations that may occur in project planning or execution.

Allowance Factor

A factor or percentage added to an estimate to account for uncertain conditions, providing a margin for error or unforeseen costs.

Standard Time

The established amount of time it should take to complete a specific task or process.