Question 1

Data used for research that is not gathered directly and purposefully for the project under consideration is termed _____.

Accepted Answer

Secondary data is data that has already been collected for another purpose and can be used for research without the need for primary data collection. Indirect data could refer to data that was not collected purposefully but could still be primary data, and derived data could refer to data that was generated through analysis or manipulation of primary or secondary data. Primary data is data that is collected specifically for the research project. Compiled data is not a commonly used term in research methodology.

Question 2

Lee is using data from the U.S. Bureau of Labor to determine the trend in U.S. incomes over the past 75 years. This data was collected for some other purpose, but Harold finds it useful in his research. Lee is using what type of data in his research?

Accepted Answer

Lee is using data that was collected for some other purpose, which means he is using secondary data.

Question 3

Which discipline has traditionally been the leading user of secondary data for both descriptive and explanatory purposes?

Accepted Answer

Economics has traditionally been the leading user of secondary data for both descriptive and explanatory purposes. This is because the discipline heavily relies on empirical data collection and analysis to explain economic phenomena and make predictions on future economic trends. Marketing, management, accounting, and finance also make use of secondary data, but not to the same extent as economics.

Question 4

A useful way to categorize secondary data is by _____.

Accepted Answer

Categorizing secondary data by source (where it came from), format (the way it is presented or organized), and type (the nature of the data, such as qualitative or quantitative) allows for a clear understanding of the data's origins and structure, which can inform its potential usefulness for research purposes. Age, magnitude, and scope are less relevant categorizations, while time frame and scope are similar to source and format, respectively, making C the best choice.

Question 5

Secondary data that comes from within the company is referred to a(n) _____ source.

Accepted Answer

Secondary data that comes from within the company is considered an internal source, as opposed to external sources such as market research reports or public databases. Primary data refers to data collected directly by the company through surveys, interviews, or experiments. Therefore, the best choice is A, internal.

Question 6

All companies gather sales data for many reasons, the primary one being able to determine the company's earnings and thus taxes owed to the government. However, sales data are useful for many research purposes. Sales data are an example of which type of source of secondary data?

Accepted Answer

Sales data are internal data that the company collects and uses for various research purposes, including determining earnings and taxes owed.

Question 7

When secondary data is obtained outside the company, it is considered a(n) _____ source.

Accepted Answer

Secondary data obtained outside the company is considered an external source, as opposed to internal sources within the company. The terms "inferior," "sufficient," and "preferred" are subjective and cannot be applied universally to all types of secondary data sources.

Question 8

Arbritron is a company that provides radio audience data, which is often used to determine the price of advertising time. This is an example of a(n) _____ source of secondary data.

Accepted Answer

The source of secondary data provided by Arbritron is external because it comes from a company outside of the organization.

Question 9

Which of the following can be an external provider of secondary data?

Accepted Answer

All of the options mentioned - local governments, industry and professional associations, supranational organizations such as the European Union, and commercial enterprises - can provide secondary data as external sources.

Question 10

Which type of secondary data is repeatedly collected as part of longitudinal studies?

Accepted Answer

Time series data is repeatedly collected over time as part of longitudinal studies, allowing for analysis of changes and trends over time.

Question 11

Gross domestic product (GDP) data has been collected and reported by the government for many years, and researchers can use this data to compare company performance over time with the country's output. The fact that GDP data has been collected over a long period of time implies it is an example of which type of secondary data?

Accepted Answer

GDP data collected over a long period of time is an example of time series data.

Question 12

Which type of secondary data is best used to compare findings across different markets?

Accepted Answer

The answer of Which type of secondary data is best...

Question 13

If a company is interested in examining economic and social factors impacting sales across its business units located in different regions of the country, which type of secondary data will be most useful?

Accepted Answer

Cross-sectional data is most useful for examining variables across different groups or locations at a single point in time, which aligns with the company's interest in analyzing economic and social factors impacting sales across different regions.

Question 14

All of the following are examples of internal sources of secondary data EXCEPT _____.

Accepted Answer

Census data on population trends is an external source of secondary data, as it is collected and published by a government agency or other organization outside of the company. The rest of the options (A, B, C, and E) are internal sources of secondary data, as they are generated within the company itself.

Question 15

Which of the following is a useful secondary data source of quality data about the people and economy of the U.S?

Accepted Answer

The U.S. Census Bureau collects and provides a vast range of data about the people and economy of the U.S. This includes demographic information, economic data, statistics on employment and education, and much more. The other options, while important agencies in their own right, do not necessarily provide data on the U.S. population or economy.

Question 16

All of the following are advantages of secondary data EXCEPT _____.

Accepted Answer

Customization is not an advantage of secondary data, as it is pre-existing data that cannot be tailored to fit specific research needs.

Question 17

All of the following are disadvantages of secondary data EXCEPT _____.

Accepted Answer

Potential for triangulation is not a disadvantage of secondary data. It is an advantage as it allows researchers to cross-check the consistency of findings from different sources. Access complications, quality concerns, misalignment of purpose, and age of data are all common disadvantages of secondary data.

Question 18

Which of the following involves evaluating the accuracy of secondary data by looking at the same data from multiple sources or by evaluating trends to see if there is any questionable data at a particular time?

Accepted Answer

Comparative analysis involves comparing data from multiple sources to evaluate the accuracy of secondary data. Cross-sectional, longitudinal, and multi-method analyses do not specifically address the evaluation of data accuracy. The option "E" is repeated.

Question 19

Gordon is conducting research on strategic marketing and needs data on the value of brands, such as Coca-Cola, Google, and Apple. There are multiple sources of brand valuation data, such as BrandZ and Interbrand. Which type of analysis will Gordon be conducting when he evaluates the accuracy of brand valuation data by looking at it from multiple sources?

Accepted Answer

Gordon is conducting a comparative analysis by evaluating brand valuation data from multiple sources to assess their accuracy.

Question 20

Which of the following pertains to comparing findings across time to identify trends or seasonal patterns?

Accepted Answer

The answer of Which of the following pertains to comparing...

Quiz 5: The Nature and Sources of Secondary Business Data