In Chapter 1, the Textbook Author Provided the Following Extreme

question 5

Multiple Choice

In Chapter 1, the textbook author provided the following extreme example of a poorly worded survey question: "We would like to propose a national golf holiday. Everybody gets the day off from work and can play golf all day. (You would not need permission from your spouse to play.) Are you in favor of this proposal?
A. Yes, most definitely.
B. Sure, why not?
C. No, I would rather spend the entire day at work.
P.S. If you choose C, we will permanently revoke all your golfing privileges everywhere in the country for the rest of your life. We are dead serious.""
The results of this survey would be unreliable due to

• A)nonsampling error.
• B)judgment error.
• C)nonprobability error.
• D)sampling error.

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Definitions:

Profit-maximizing

A principle or strategy where a business seeks to achieve the highest possible profit through its operations, pricing, and production decisions.

Total Cost

Total Cost is the sum of all costs, fixed and variable, incurred in the production of goods or the delivery of services.

Daily Profit

The financial gain or loss a business makes in a single day, calculated by subtracting total daily expenses from total daily revenue.

Marginal Revenue

The extra revenue generated by the sale of an additional unit of a product or service.