Which of the Following Might NOT Be an Appropriate Strategy

question 33

Multiple Choice

Which of the following might NOT be an appropriate strategy for dealing with missing information on a questionnaire?

• A)Throw out the entire questionnaire.
• B)Overlook the missing information and code the remaining answers.
• C)Substitute information based on the responses of similar respondents.
• D)Both a and c only.
• E)All of the above might be appropriate.

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Definitions:

Strictly Convex Preferences

Preferences that demonstrate a consumer's increasing marginal rate of substitution, indicating a strong preference for diversified bundles of goods over homogeneous bundles.

Indifference Curves

Graphs representing different bundles of goods between which a consumer is indifferent, showing the combinations of goods that provide the same level of utility to the consumer.

Marginal Utility

The additional satisfaction or utility a consumer gains from consuming one more unit of a good or service.

Competitive Equilibrium Price Ratio

The ratio of prices that ensures the equality of supply and demand in a competitive market, often used to observe relative price changes between commodities.