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Which type of data consists of objective responses that a business can measure for market research purposes?



[Choose an answer] or [Choose an answer] data refers to objective responses that a business can measure in the market research process.

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Final answer:

Quantitative data is the type of measurable, objective data used in market research. It includes numerical responses that can be statistically analyzed. This data helps businesses gain insights into customer behavior and market trends.


Explanation:

Understanding Measurable Data in Market Research

In market research, the type of data that consists of objective responses and can be quantitatively measured is referred to as quantitative data. This data type is crucial for businesses as it provides factual information that can be analyzed statistically. Examples of quantitative data include sales figures, customer ratings on a scale (e.g., 1 to 5), and the number of products sold.

Key Characteristics of Quantitative Data

  • Objective Nature: This data is based on observable phenomena and is independent of personal feelings or opinions.
  • Measurable: It can be counted or quantified, which allows for clear analysis and comparison.
  • Statistical Analysis: Businesses can apply various statistical methods to interpret this data, leading to actionable insights.

For instance, if a company surveys its customers and asks how likely they are to recommend a product on a scale of 1 to 10, the responses can be quantified and analyzed to determine overall customer satisfaction.


Learn more about Quantitative Data here:

https://brainly.com/question/96076


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