The value of research in making a particular decision may be determined by applying the following equation: V(dr)- V(d) C(r)

Question

The value of research in making a particular decision may be determined by applying the following equation: V(dr)- V(d)> C(r)

Quizplus · Accepted Answer

This equation represents the cost-benefit analysis of conducting research. It states that the value of conducting research (V(dr)) minus the value of not conducting research (V(d)) should be greater than the cost of conducting the research (C(r)) in order for it to be considered valuable in the decision-making process.

The Value of Research in Making a Particular Decision May