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Explain the Philosophy of Customer Relationship Management (CRM)

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Explain the philosophy of customer relationship management (CRM).


Definitions:

Critical Value

A threshold in hypothesis testing that determines the boundary for accepting or rejecting the null hypothesis.

Test Statistic Value

A value calculated from sample data that is used to make a decision in a hypothesis test.

Critical Value

A threshold in hypothesis testing that defines the boundary or cutoff for deciding whether to reject the null hypothesis, based on the observed data.

Significance Level

The probability threshold below which the null hypothesis is rejected in a statistical test.

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