Only unfavorable variances should be investigated, if substantial, to determine their causes
Indicate whether the statement is true or false
FALSE
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Why would the customer pyramid be more appropriate in identifying a customer's lifetime value than utilizing the traditional 80-20 rule?
A. The 80-20 rule doesn't recognize the behavior of 20 percent of the customers. B. Customers can more easily identify where they would be located in the customer pyramid than within the 80-20 rule. C. The 80-20 rule does not consider important differences among the 80 percent of customers in the "rest" segment. D. If shoppers only buy 20 percent of the time, retailers have a missed sale 80 percent of the time. E. The 80-20 rule focuses only on the value of 80 percent of the shoppers.
The ________ measures activities, interests and opinions (AIO's)
A) constant sum scale B) life-style inventory C) semantic differential scale D) synthetic action/ information/ online format E) origin scale
Billy is the star of his school’s football team. He will not go out onto the field without his lucky sweatbands because he thinks that when he forgets his sweatbands, his team loses. Billy’s decision to wear sweatbands is based on which error?
A. framing B. uncertainty C. randomness D. lack of participation
Why is there confusion over whether constant sum data are ordinal or metric?
What will be an ideal response?