Answer:
The major faults of measurement are:
- Coverage
- Measurement
- Sampling and
- Response
Explanation:
During business research, the data collected during the survey can become very unusable due to errors arising from the factors listed above.
The problem of coverage arises when for instance an electronic survey is used to collect data from a sample population where 69% for instance, do not have access to a mobile phone or a computer.
Measurement problems during a survey speak to the ability to properly design a questionnaire in such a way that it elicits the right kinds of responses. This means asking the right questions so that the responses or answers are accurate. The irony of measurement error is that one's survey is useless if they got the questionnaire design wrong, regardless of whether or not the response rate was very high.
After administering a survey and there is little or no response, one is said to have an error in response rate. A low response rate increases the error margin of the survey as well as it's unreliability.
Sampling errors are said to occur when the sample size is too small or statistically homogenous such that it does not accurately represent the entire population. When this happens it is termed <em>sample frame error.</em>
Another error can occur when the researcher includes the wrong population or excludes the right population. This is called <em>Error in Population Specification. </em>
Cheers
Answer:
The correct statement is: "The fixed cost per unit will decrease when volume increases."
Explanation:
Total fixed costs remain the same within a relevant range, but the <em>fixed cost per unit</em> decreases as production increases, because the same fixed costs are spread over more units produced.
Answer:
The answer is Consumer Behavior
Explanation:
Consumer Behavior is the study of individual customers, a group of people or organizations with regard to how these people and organizations purchase and dispose goods and services that are needed to satisfy their wants or needs.
This study seeks to understand how the behave in the marketplace and the reason(s) for this behavior.
The importance of understanding consumer behavior is that it can help you become more effective at marketing, advertising, product design and development, which will have the major impact of your customers.
An example can be seen when someone seeks the advice of his/her friend before purchasing a car. In this case, they may buy the car not because they like it, but because a friend recommended that car.
D I think is correct answer.
Answer:
b. Monopolistic competition is likely to result in a greater variety of product brands than pure competition.
Explanation:
Monopolistic competition is a competitive structure in which few companies operate in an industry that offers the same type of service or product, but differences. In this way each firm holds the relative monopoly of the product. For example, in the toothpaste market, companies sell the same product (toothpaste) but each company tries to differentiate their product from others.
In the competitive structure, several companies sell various products in a free competitive regime, having no monopoly power. Thus, the number of companies and products is infinitely larger than in monopolistic competition.
