Observational Data Refers to

question 14

Multiple Choice

Observational data refers to

• A)facts and figures newly collected for the project at hand.
• B)facts and figures obtained by watching people either mechanically or in person, how people actually behave.
• C)facts and figures obtained by asking people questions either through personal interviews, panel discussions, or questionnaires.
• D)facts and figures that have already been recorded from multiple sources prior to the project.
• E)conclusions developed from information obtained from a representative sample of a population.

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Definitions:

Future Costs

Potential expenses that a company expects to incur in the future as a result of its current decisions and actions.

Relevant

Pertaining to decision-making, it refers to information or data that can influence the outcome of the decision.

Incurred Costs

Expenses that have been realized in the course of business operations.

Alternatives

Different options or choices available in a decision-making process.