You Are a Research Assistant for a New Study and Have

question 8

Multiple Choice

You are a research assistant for a new study and have just received your first data set. What is the first thing you should do with the data?

• A) Start running basic statistical analyses
• B) Save a copy of the file in case it's damaged or lost later
• C) Begin cleaning for outliers and missing values
• D) Code responses

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Definitions:

Cost Drivers

Factors that cause the cost of an activity or product to change, such as production volume or raw material prices.

Support Department Cost

Expenses related to the functions that assist the direct operations or production departments of a business, such as human resources or maintenance.

Return on Investment

A metric for assessing the effectiveness or gains of an investment, determined by dividing the net earnings by the investment's expense.

Minimum Return on Investment

The least amount of profit expected from an investment, below which an investment is not considered acceptable.