Select the Correct Statement Regarding Quantitative and Qualitative Information

question 13

Multiple Choice

Select the correct statement regarding quantitative and qualitative information.

• A) To be relevant, qualitative data need not be quantified.
• B) Relevant information cannot have both quantitative and qualitative characteristics.
• C) Qualitative data should only be considered when quantitative data are inconclusive.
• D) To be relevant, qualitative data need not differ among the alternatives but must be future-oriented.

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Definitions:

Crop

A cultivated plant that is grown on a large scale commercially, especially a cereals, fruit, or vegetable.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a certain period of time.

Agricultural Commodities

Raw products derived from farming, ranching, and forestry which are traded on commodities markets, such as grains, livestock, and dairy products.

Income Elastic

Describes a situation where the demand for a good or service changes in response to changes in consumers' income levels.