Allison Is Editing a Data Record and Finds That a Response

question 25

Multiple Choice

Allison is editing a data record and finds that a response of 7 has been entered for a question that requests a response between 1 and 5.What should Allison do?

• A) Enter a response between 1 and 5
• B) Enter a response of unknown
• C) Enter a mode for the question
• D) Enter a 3 as a neutral response
• E) None of the above

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Definitions:

Demand Function

A mathematical expression that shows the relationship between the quantity of a good consumers are willing to buy and its price.

Price Elasticity

The measure of how much the quantity demanded or supplied of a good changes in response to a change in its price.

Price Doubles

A situation where the price of a good, service, or commodity increases to twice its previous level, affecting supply and demand dynamics.

Intensive Margin

The degree to which factors of production, such as labor, are utilized more intensely to increase output in the short term.