Anyone Undertaking a Market Research Project Should Understand That the First

question 57

Multiple Choice

Anyone undertaking a market research project should understand that the first step is:

• A)setting the budget.
• B)determining the methodology to use.
• C)deciding who will see the final report.
• D)defining the problem.
• E)determining information requirements.

---

Definitions:

Individual Data Elements

Single pieces of information or data that are collected and analyzed in a research study.

Sample Variance

A measure of the dispersion or variability in a sample data set, calculated as the average squared deviation of each number from the mean of the data set.

Negative

A term used to describe values, numbers, or expressions that are less than zero, often indicating a direction opposite to what is considered positive.

Positive

A term indicating a value greater than zero, or a positive direction or effect.