Data Must Be Converted into Information to Be Considered Useful

question 17

Multiple Choice

Data must be converted into information to be considered useful and meaningful for decision making.There are six characteristics that make information both useful and meaningful.If information is free from error or bias and accurately represents the events or activities of the organization,it is representative of the characteristic of

• A) relevancy.
• B) timeliness.
• C) understandability.
• D) reliability.

Understand the role and limitations of technology in facilitating research.

Understand the concept of response bias in market research and its implications.

Identify and discuss the potential measurement problems in marketing research.

Differentiate between recall and recognition measures in consumer memory.

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Definitions:

Downward Sloping

Describes a trend or graph line that decreases in value as it moves from left to right, often used in finance to describe declining interest rates or stock prices.

Upward Sloping

Describes a line on a graph that represents an increase in a variable over time or another metric.

Yield Curve

The yield curve is a graphical representation of the interest rates on debt for a range of maturities, showing the relationship between interest rates and the time to maturity.

Semiannually

Occurring twice a year; typically used in finance to describe payments, compounding interest, or other events that happen every six months.