When a Researcher Has Determined That the Data Will Come

question 30

Multiple Choice

When a researcher has determined that the data will come from responses to a survey, which step in the research process would this fall under?

• A) collecting data
• B) analyzing data
• C) drawing conclusions regarding the research hypothesis
• D) communicating the findings of the study

Recognize the role of environmental factors in influencing HR forecasting.

Distinguish between dependent and independent variables in a forecasting model.

Evaluate factors influencing the choice between quantitative and qualitative forecasting methods.

Understand the use of simulations and other models in identifying HR demand and supply bottlenecks.

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Definitions:

Implicit Costs

The opportunity costs of using resources owned by the firm for its own use, rather than earning income from these resources elsewhere.

Explicit Costs

Direct, out-of-pocket payments for inputs or resources employed in the production of goods or services.

Total Cost

The aggregate amount of expenses incurred by a business in producing goods or services, including both fixed and variable costs.

Economic Profit

The variance between gross receipts and all outlays, including both tangible and intangible costs.