What Are the Advantages and Disadvantages of Collecting Survey Data

question 33

Essay

What are the advantages and disadvantages of collecting survey data through face-to-face interviews?

---

Definitions:

Prior Probabilities

Represents the probabilities of events based on existing knowledge before new evidence is introduced.

Subjective Probability

The individual's personal judgment or estimate of the likelihood of an event occurring.

Prediction Value

A forecasted numerical value derived from statistical analysis or models, indicating a future outcome.

Cost Of Information

The expense incurred in acquiring data necessary for decision-making, including collection, processing, and analysis costs.