Intangible Items Such as Airline Trips, Financial Advice, or Telephone

question 169

Multiple Choice

Intangible items such as airline trips, financial advice, or telephone calls that an organization provides to consumers are referred to as

• A) production goods.
• B) support products.
• C) services.
• D) goods.
• E) benefits.

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Definitions:

Population

The total number of individuals within a specified area or group, often used in statistics and research.

Sample

A subset of a population selected for measurement, observation, or questioning to provide statistical information about the population.

Sampling Error

The error that occurs in statistical analysis from selecting a sample that is not perfectly representative of the entire population, potentially leading to inaccurate results.

Nonresponse Bias

A form of bias in survey data resulting from the difference between those who respond to the survey and those who do not, potentially skewing the results.