When a Lack of Information Can Result in Business Risk

question 6

Multiple Choice

When a lack of information can result in business risk, management can do all of the following to acquire additional information EXCEPT:

• A)Refer to the annual reports of competitors for needed information.
• B)Purchase information from those that possess the knowledge needed.
• C)Form a panel to evaluate the product
• D)Test market a product

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Definitions:

Spurious Relationship

A false association between two variables that appears to be causally linked but is actually due to an extraneous variable.

Nonexperimental Method

Use of measurement of variables to determine whether variables are related to one another. Also called correlational method.

Nonexperimental Method

A research method where the researcher observes and records behavior without manipulating any variables.

Experimental Control

The process of keeping variables constant or regulating external factors to ensure that observed effects are due to manipulated variables only.