When Using Statistics in Economics,the Possibility of Error

question 87

Multiple Choice

When using statistics in economics,the possibility of error

• A)cannot be eliminated.
• B)cannot be controlled.
• C)cannot be evaluated.
• D)is not considered to be important.
• E)can be eliminated with more sophisticated statistical techniques.

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Definitions:

Challenge and Performance

The relationship where increased levels of challenges lead to higher performance if the individual is motivated and has the necessary skills.

Moderators

Variables that influence the strength or direction of the relationship between independent and dependent variables in research or analysis.

Situational Constraints

Describes factors in the environment that can limit the effectiveness of a decision or action, including resources, time, and organizational structure.

Knowledge and Ability

Refers to the theoretical or practical understanding an individual has, as well as their capacity to apply it effectively in various situations.