Question 1

a. Why is data collection important to an organization?

b. Give examples of nominal, ordinal and cardinal data.

c. Discuss whether you agree with the following statement: "Primary data is always better than secondary data."

d. What types of sampling can you use?

e. Explain the condition for the optimal amount of data. (3 marks) If the marginal cost of data is larger than the marginal benefit of data, how should the researcher adjust the amount of data collected? (3 marks)

Question 2 (20 marks)

Michael's International Co. has collected the following monthly output figures over 5 years.

Table 2

\f