Which of the following statements is INCORRECT?

Question

Question

This question was previously asked in

SSC CGL Tier-II ( JSO ) 2021 Official Paper ( Held On: 10 August 2022 )

Collecting primary data is not quite expensive both, in the terms of time and money.
Primary data are original.
Primary data are those that are collected for the first time.
Primary data are more reliable and suitable.

Answer 1

The correct answer is collecting primary data is not quite expensive both, in the terms of time and money.

Key Points

The process of acquiring data through surveys, interviews, or experiments is known as primary data collection. Household surveys are a common type of primary data.
It may be more expensive to obtain primary data than secondary data. This is so that volunteers may be found, or a vendor or research firm can be hired. Sometimes secondary data is even free.
In so far, as it was gathered with the intention of solving a specific study issue, primary data is frequently trustworthy, real, and unbiased. It is noteworthy that primary data collection is uncommon due to the high implementation costs.

Additional Information

The Obama Administration determined a few years ago that any research conducted with federal public dollars should be made freely available to the general public. Additionally, data management plans should be in place to keep the data safe and secure for virtually all time. These data sets are available for download and manipulation for study and are published as Supplementary Materials in the scientific literature.
Your choice of data for your analysis or research is influenced by things like:
- Time constraints
- Expertise in the field of interest
- Existing (secondary) data availability
- Ability and experience of your business to gather primary data.

Hence, collecting primary data is not quite expensive both, in the terms of time and money is not a correct statement.