Collecting Information Such as Consumer Demographics and Lifestyle Characteristics Would

question 13

Multiple Choice

Collecting information such as consumer demographics and lifestyle characteristics would be illustrative of which reason for the high usage of surveys in marketing research?

• A) the need to know why certain things are done or not done
• B) the need to know who does certain things
• C) the need to explain cause and effect relationships
• D) the need to know how consumers make decisions
• E) All are reasons for the high rate of usage of surveys in marketing research

---

Definitions:

Probability

The measure quantifying the likelihood or chance that a particular event will occur, often expressed as a number between 0 and 1.

Null Hypothesis

The null hypothesis is a type of hypothesis used in statistics that proposes no statistical significance exists in a set of given observations, serving as the default assumption until evidence suggests otherwise.

Level of Significance

A threshold used in statistical tests to determine if the observed data sufficiently deviate from a null hypothesis.

Income Bracket

An income bracket refers to a range of incomes segmented for statistical purposes, often used in economic and policy analyses to categorize and compare individuals' or households' financial status.