Data mining is used to examine known, expected patterns and relationships among variables.
Answer the following statement true (T) or false (F)
False
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Answer the following statement(s) true (T) or false (F)
1. The three general heuristics that are used to simplify decision-making are availability, representativeness, and anchoring and adjustment. 2. Heuristics are the extent to which instances or occurrences of an event are readily brought to mind. 3. Consequential models focus on the outcomes or consequences of a decision to determine whether the decision is ethical. 4. Utilitarian principles hold that human beings have certain fundamental rights and that a sense of duty to uphold these rights is the basis of ethical decision-making rather than a concern for consequences. 5. In cultural relativism, moral concepts are legitimate only to the extent that they reflect the habits and attitudes of a given culture.
A firm's organizational structure is comprised of
A. sustainable distinctive competencies to ensure cost reduction and competitiveness. B. resource strengths and competitive capabilities that allow it to incorporate attributes at lower costs than rivals whose products have similar attributes. C. a number of independent functional units involved in some common undertaking, with one unit typically in a more central role. D. the formal and informal arrangement of tasks, responsibilities, lines of authority, and reporting relationships by which the firm is administered. E. superior marketing and sales skills to convince buyers to pay a premium price for the attributes/features incorporated in its product.
What is the customer lifetime value of a customer that that generates $5,000 (on average) of annual sales? Assume an 8% discount rate, a 15% profit margin, and a customer expected lifetime of 8 years.
a. Less than $2,000 b. Between $2,000 and $3,000 c. Between $3,000 and $4,000 d. More than $4,000
A bailment where money is paid from one party to the other is usually described as:
A) Solely for the benefit of the bailor. B) For the mutual benefit of the bailor and the bailee. C) Solely for the benefit of the bailor or bailee, depending on which received the money that changed hands. D) Solely for the benefit of the bailee.