What Is One of the Major Disadvantages of Using Existing

question 27

Multiple Choice

What is one of the major disadvantages of using existing statistics compared to other quantitative forms of data collection?

• A)The sample is often limited to university undergraduates.
• B)Interviewer effect can be an issue.
• C)A fairly limited range of research questions can be addressed with this technique.
• D)It can take the researcher a considerable amount of time to become acquainted with the data.
• E)The conditions under which the research and data gathering take place are often artificial.

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Definitions:

MUₐ /Pₐ

Represents the ratio of the marginal utility (MU) of a good to its price (P), indicating the additional satisfaction per unit of currency spent on that good.

Product B

A general term used to refer to a second product or an alternative in a list or comparison of goods.

Income

The financial gain or revenue received by an individual or entity in exchange for providing labor or through investments.

Research and Development

The investigative activities a business conducts to improve existing products and procedures or to lead to the development of new products and procedures.