Judgment and Insight Are Needed to Draw Appropriate Inferences and Conclusions

question 34

Multiple Choice

Judgment and insight are needed to draw appropriate inferences and conclusions from research results because marketing research studies:

• A)imply significant relationships among variables.
• B)do not use econometric or statistical techniques.
• C)seldom obtain findings that are unambiguous.
• D)always use extremely large secondary data sets.

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Definitions:

Unit of Labor

A measurement of work or effort by an employee or worker.

Labor Supply

The total hours that workers are willing and able to work at a given wage rate in a specific period.

Capital

Financial assets or their financial value, as well as the tangible factors of production that are used in creating goods or services.

Maximize Profit

The process of increasing one's financial gain to the highest possible level given the constraints of the market.