Martha sends out 300 mail surveys to a representative group of respondents. Of these, 175 fill out the survey and mail it back to her. She realizes that those who responded were significantly more educated and had higher incomes than the general population. This is an illustration of:
a. response error.
b. nonresponse error.
c. sampling error.
d. interest error.
e. representation error.
Answer: b. nonresponse error.
Business
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An acceptance of an offer to sell goods may not change the terms of the offer if both offeror and offeree are nonmerchants
a. true b. false
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Return on assets will likely differ across firms and across time. Three elements of risk that will help explain these differences are ________________________________________, cyclicality of sales and stage and length of product life cycle
Fill in the blank(s) with correct word
Business