Using Income Data to Determine the Credit Worthiness of a Consumer

question 3

Multiple Choice

Using income data to determine the credit worthiness of a consumer who wishes to purchase a new car is an example of using statistics in the field of ------- .

• A)marketing research
• B)finance
• C)operations
• D)advertising

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Definitions:

Major Events

Significant occurrences or happenings, often of public interest, that can have a considerable impact on societies or industries.

Management By Objectives (MBO)

A management strategy wherein specific objectives are set collaboratively for the organization, allowing employees to work towards clearly defined goals.

Task Analysis

The examination and breakdown of tasks to understand their components, processes, and the skills required for their completion.

Formal Authority

Formal authority refers to the power or right to make decisions, command subordinates, and enforce obedience, typically granted by a position within an organizational hierarchy.