Which of the Following Is the Advantage of Secondary Data

question 46

Multiple Choice

 Which of the following is the advantage of secondary data over primary data? 

• A) It is always available for strategy-specific research questions.
• B) Its sources are limited making the information more valuable.
• C) It is cheaper to utilize secondary data than primary data for research.
• D) It is collected specifically for the research problem under investigation.

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Definitions:

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the individual data points differ from the mean.

Variance

A measure of the dispersion of a set of data points in a dataset, indicating how far each data point lies from the mean.

Variability

Refers to the extent to which data points in a statistical distribution or data set diverge from the average value.

Range

The difference between the highest and lowest values in a data set, showing the spread or dispersion of the data points.