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DB bank is launching a new investment product targeting senior citizens in the U.S. The company decides to use direct marketing for selling the product. What direct marketing strategy would allow the company early testing and response measurement of the product?
Sample Size
The total count of data points or observations gathered from a population to perform statistics.
Error of Estimation
Error of estimation is the discrepancy between an estimated value and the true value of a parameter being estimated.
Sampling Error
The error caused by observing a sample instead of the whole population, affecting the precision of statistical estimates.
Population Standard Deviation
The square root of the variance in a population, reflecting how much individual data points in the entire population deviate from the population mean.
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