The Three Basic Research Methods Used to Collect Quantitative Data

question 43

Multiple Choice

The three basic research methods used to collect quantitative data are

• A) observation, experiment, and survey.
• B) observation, simulation, and experiment.
• C) role-playing, simulation, and observation.
• D) field tests, market tests, and laboratory tests.
• E) survey, role-playing, and market tests.

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Definitions:

Materials Price Variance

The difference between the actual cost of materials used in production and the expected (or standard) cost, reflecting changes in material prices.

Raw Materials Purchases

The total cost incurred from buying raw materials that are to be used in the production process.

Standard Costs

The predetermined costs of manufacturing a single unit or a number of product units during a specific period under current or anticipated operating conditions.

Gallons

A volume measurement primarily utilized in the United States for quantifying liquid substances.