The terms known and unknown are misleading;to calculate a precise probability,one would need to know the exact size of the population,and it is impossible to know the exact size of the population in most marketing research studies.

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Knowing the exact size of the population is necessary to calculate precise probabilities in marketing research studies. As it is almost impossible to know the exact size of the population, the terms known and unknown can be misleading in such cases.

The Terms Known and Unknown Are Misleading;to Calculate a Precise