A Coded Value Can Be Rejected If It Is Too

question 25

True/False

A coded value can be rejected if it is too large or too small for a particular scaled item on a questionnaire.

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Definitions:

Utility

The satisfaction received from consumption; sense of well-being.

Satisfaction

The feeling of pleasure or fulfillment that comes from meeting one's needs or expectations.

Real Wages

Wages adjusted for inflation, reflecting the actual purchasing power of income.

Opportunity Cost

Opportunity cost represents the value of the best alternative that must be forgone as a result of choosing a particular action or decision over others.