Facts and Figures That Are Newly Collected for a Project

question 225

Multiple Choice

Facts and figures that are newly collected for a project at hand are referred to as

• A) statistical data.
• B) empirical data.
• C) secondary data.
• D) primary data.
• E) inferential data.

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Definitions:

Peak Demand Period

The time frame when the demand for a product or service reaches its highest point.

Pricing Decisions

These are determinations made by businesses about how much to charge for their products or services, influenced by costs, demand, and competitive factors.

Profitability

The ability of a business to earn a profit, which is the surplus remaining from revenue after all costs are deducted.

Dual Facilities

Dual facilities refer to the strategy of maintaining two or more locations for production, storage, or business operations to enhance capacity, flexibility, or geographic reach.