Which of the following statements is correct?
A)Business researchers rarely give attention to collecting meaningful data.
B)Variables are data that can be directly used for decision making.
C)Valid data are the lifeblood of business statistics.
D)Measurements never need to be defined by the business researcher.
E)Business statistics are extremely complex and hard to use for decision making.

Question

Quizplus · Accepted Answer

Valid data are crucial for business statistics because they provide the accurate information needed for making informed decisions. Without valid data, any analysis or conclusion drawn could be misleading or incorrect, impacting the decision-making process negatively.

Which of the Following Statements Is Correct