Since most data that we would like to conduct a thorough market analysis is unavailable, a researcher will find it useful to find a data series that will closely represent the variable of interest. We typically refer to this type of variable as a:
A) Relevant
B) Proxy
C) Correlation
D) Cluster

Question

Quizplus · Accepted Answer

A proxy variable is a variable that closely represents the variable of interest when the desired data is unavailable. A relevant variable is simply a variable that is related to the research question or topic. Correlation refers to the relationship between two variables, not necessarily one being a proxy for the other. Cluster refers to a group of similar observations or data points. Hence, the best choice for a variable that closely represents the variable of interest when the desired data is unavailable is a proxy variable (Choice B).

Since Most Data That We Would Like to Conduct a Thorough