The Response Rate to a Survey Affects

question 209

Multiple Choice

The response rate to a survey affects

• A) who is in the population for a marketing research study.
• B) whether a statistical package can be used to analyze the data.
• C) how representative the sample is.
• D) All of the above are good answers.
• E) None of the above is a good answer.

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Definitions:

Opportunity Cost

The forfeiture of possible benefits from other options when a specific choice is made.

Real Cost

The total cost of producing a good or service, considering all resources including time and opportunity costs.

Choice Set

A set of all possible options available for a consumer or a decision-maker in a given context.

Budget Constraint

The limitations on the purchasing power of a consumer, stemming from their income and the prices of goods and services.