Max Conducted a Survey Study and Received an Initial Response

question 8

Multiple Choice

Max conducted a survey study and received an initial response rate of approximately 68% with his first mailing. What do you suggest for Max now?

• A) His response rate is low. Try to determine if there is a systematic reason why.
• B) His response rate is low. Send a second mailing.
• C) His response rate is adequate. Send a second mailing.
• D) His response rate is too high to send a second mailing. Analyze his data and report his findings.

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Definitions:

Pricing Strategies

Comprehensive plans developed to find the optimal price point to maximize sales and profits while considering costs, competition, and customer demand.

Capital

In economics, capital refers to financial assets or the financial value of assets, such as funds held in deposit accounts, as well as the physical factors of production and facilities.

Risk-Averse

The preference to avoid taking risks, favoring safer or more predictable outcomes over potentially higher but riskier rewards.

Exporting

Exporting is the process of selling goods or services produced in one country to buyers in other countries.