Answer: Option B. -> limited resources having multiple uses : B The problem of choices arises when there are multiple alternatives and limited resources. In this case, a choice between one or the other has to be made.
Question 2. The mean of 5 numbers is 18. If one number is excluded, their mean becomes 16. Then the excluded number is
Answer: Option C. -> 26 : C Sum of total number =18×5=90 After one number excluded Sum of total number =16×4=64 Then, excluded number is 90−64=26
Question 3. An app-based taxi company 'Drivo' has the following questions in the feedback form that it gives to its customers. A- Was the driver professional? B - Would you recommend Drivo to a friend? C- Were you satisfied with the ride? Identify the correct sequence of the questions in the feedback form.
Answer: Option C. -> C-A-B : C Questions must move from more general to more specific. Hence, C-A-B is the correct sequence
Question 4. A company X was acquired by another company Y. Company Y came into possession of customer feedback data collected by company X. What can be said about the nature of the data?
The data is primary data as company X is owned by company Y.
The data is primary data only if used for the purpose envisioned by the company X.
The data is secondary as it was collected by company X for its own purpose.
Answer: Option C. -> The data is secondary as it was collected by company X for its own purpose. : C The data collected by another party is classified as secondary data irrespective of the purpose which it is used for.
Question 5. Which of the following comes under the study of consumption?
Answer: Option D. -> Government-published records : D Only the data directly collected by a person or an entity is primary data. Therefore, government-published records are secondary data.
Question 10. Questionnaire is a list of questions prepared by the investigator on the subject of enquiry.