Data That Were Initially Generated for a Purpose Other Than

question 41

Multiple Choice

Data that were initially generated for a purpose other than solving the problem at hand are termed

• A)exploratory data
• B)survey data
• C)descriptive data
• D)qualitative data
• E)secondary data

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Definitions:

Opportunity Cost

The benefit that is missed or given up when choosing one alternative over another.

Hour

A unit of time equal to 60 minutes.

Opportunity Cost

Skipping over the possibility of gain from multiple options by deciding on a single one.

Opportunity Cost

The cost of choosing one option over alternative uses of resources or opportunities.