A readily observable attribute of a product used to represent the performance level of a less observable attribute is known as a surrogate indicator.

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This statement is true. A surrogate indicator is a measurable attribute of a product that is used to represent or estimate the level or quality of a less observable attribute or performance measure. For example, a car’s fuel economy or gas mileage can serve as a surrogate indicator for its emissions, as a higher fuel economy implies lower emissions.

A Readily Observable Attribute of a Product Used to Represent