Secondary data are typically historical data that have already been collected

TRUE/FALSE

1. Secondary data are typically historical data that have already been collected.
2. Secondary data require current access to respondents who provided the data.
3. The primary advantage of secondary data is their availability.
4. A disadvantage to secondary data is that they were not designed specifically to meet the objectives of the current project.
5. It’s usually safe to assume that secondary information is relevant, useful, and reliable.
6. One disadvantage of secondary data is that it cannot be converted to conform to a researcher’s needs.
7. A researcher should always evaluate the professional reputation of the organization that has gathered secondary data in terms of evaluating the quality of the data.
8. A reliability analysis is done by comparing data from one source with data from another source.
9. Fact-finding is the simplest form of secondary data research.
10. Market tracking is the observation and analysis of trends in industry volume and brand share over time.

The Correct Answer and Explanation is :

True/False Answers:

1. True
2. False
3. True
4. True
5. False
6. False
7. True
8. True
9. True
10. True

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Explanation:

Secondary data refers to information that has already been collected and compiled by someone else for a purpose other than the current research. This data is typically historical and stored in sources such as government reports, company records, academic journals, and market research reports.

1. Secondary data are typically historical (True) – Since secondary data have already been collected, they are often historical in nature and may not always reflect current conditions.
2. Secondary data require current access to respondents (False) – Unlike primary data, secondary data are pre-existing and do not require researchers to collect responses directly from participants.
3. The primary advantage of secondary data is availability (True) – Secondary data are easily accessible through various sources, making them time-efficient and cost-effective for research.
4. A disadvantage is that secondary data were not designed for the current project (True) – These data sets were originally collected for different purposes, which may limit their applicability.
5. Assuming secondary data are always relevant and reliable is incorrect (False) – Researchers must critically evaluate sources, as secondary data may be outdated, biased, or inaccurate.
6. Secondary data cannot be adjusted to fit research needs (False) – In many cases, researchers can reanalyze or reformat secondary data to align with their specific objectives.
7. Evaluating the credibility of data sources is essential (True) – Trustworthy organizations produce more reliable data, so checking the source’s reputation is crucial.
8. Reliability analysis involves comparing multiple sources (True) – Cross-checking data from different sources helps determine its accuracy and consistency.
9. Fact-finding is the simplest form of secondary data research (True) – This method involves retrieving basic information, such as market size or demographic data.
10. Market tracking observes industry trends over time (True) – This type of research monitors changes in sales, consumer behavior, and market dynamics.

Now, I’ll generate the requested image.

Here is the generated image of a business researcher analyzing secondary market data, reviewing trends, and comparing different sources. Let me know if you need any modifications!