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QUESTION 15 A company's sales data is a good example of Internal primary data External secondary data External primary data Internal secondary data

Ask by Barrett Craig. in the United States
Mar 10,2025

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Answer

The company's sales data is an example of **internal primary data**.

Solution

To determine the correct answer, let's analyze the options based on the definitions of internal and external data, as well as primary and secondary data: 1. **Internal Data**: Data that is collected from within the organization. This includes sales data, employee records, and financial data. 2. **External Data**: Data that is collected from outside the organization. This includes market research reports, industry statistics, and competitor analysis. 3. **Primary Data**: Data that is collected firsthand for a specific purpose. This includes surveys, interviews, and experiments. 4. **Secondary Data**: Data that has already been collected and published by someone else. This includes reports, articles, and databases. Given that the company's sales data is collected from within the organization and is specific to the company's operations, it is classified as: - **Internal Data** (since it comes from within the company) - **Primary Data** (if it is collected specifically for the company's use) Thus, the correct answer is: **Internal primary data**.

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Beyond the Answer

The company's sales data is a treasure trove of insights collected directly from its operations, showcasing real-time performance and trends within the business. Utilizing this internal primary data can help companies fine-tune their strategies and boost efficiency like a well-tuned instrument! Moreover, understanding this kind of data can significantly enhance decision-making processes. Managers can analyze specific sales patterns, customer preferences, and seasonal fluctuations, allowing them to optimize inventory, tailor marketing campaigns, and ultimately drive profitability—think of it as navigating a ship using a detailed map rather than sailing blindfolded!

Related Questions

Question 12(Mulliple Choice Warth 5 points) \[ (04.06 \mathrm{HC}) \] A researcher wants to test the claim that the proportion of juniors who watch television regularly is greater than the proportion of seniors who watch television regularly She finds that 56 of 70 randomly selected juniors and 47 of 85 randomly selected seniors report watching television regularly. Construct \( 95 \% \) confidence intervals for each population proportion. Which of the statemente gives the correct outcome of the research or's tert of the dalim? The \( 95 \% \) confidence interval for juniors is (706, 894), and the \( 95 \% \) confidence interval for seniors is ( 447,659 ). Since the intervals overlap, there is not enough evidence to say the proportion of juniors who watch television regularly may be higher than that of seniors. The \( 95 \% \) confidence interval for juniors is (721, 879), and the \( 95 \% \) confidence interval for seniors is (464, 642). Since the interval for juniors is higher than the interval for seniors, there is evidence to say the proportion of juniors who watch television regularly may be higher than that of seniors. The \( 95 \% \) confidence interval for juniors is ( 706,894 ), and the \( 95 \% \) confidence interval for seniors is ( 447,659 ). Since the interval for juniors is higher than the interval for seniors, there is evidence to say the proportion of juniors who watch television regularly may be higher than that of seniors. The \( 95 \% \) confidence interval for juniors is ( \( 721, .879 \) ), and the \( 95 \% \) confidence interval for seniors is (464, 642). Since the intervals overlap, there is not enough evidence to say the proportion of juniors who watch television regularly may be higher than that of seniors.

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