Income Segmentation Is a Long-Standing Practice in Such Product and Service

question 106

True/False

Income segmentation is a long-standing practice in such product and service categories as cars,clothing,cosmetics,financial services,and travel.

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Definitions:

Binomial Random Variable

A type of random variable that arises from processes that consist of a fixed number of trials, each of which leads to a binary outcome (success or failure).

Variance

A measure of the dispersion or spread of a set of data points around their mean.

Standard Deviation

An indicator of the degree of spread or variability among a collection of numbers.

Variance

A measure of the dispersion of a set of data points around their mean; shows how much the data vary from the average.