A Business Determines That 75% of Its Customers Are Satisfied

question 21

Multiple Choice

A business determines that 75% of its customers are satisfied.This business also learns that 80% of a leading competitor's customers are satisfied.If this business implements a program to reach 80% customer satisfaction,this is called ________.

• A)competitive parity
• B)focused value proposition
• C)managing to the averages
• D)wide-angle view of customer satisfaction
• E)forward-looking indicator

---

Definitions:

68-95-99.7 Rule

A statistical rule stating that in a normal distribution, about 68% of observed values fall within one standard deviation, 95% within two, and 99.7% within three standard deviations of the mean.

Normally Distributed

Describes a statistical distribution where data points are symmetrically distributed around the mean, forming a bell-shaped curve.

Standard Deviation

A statistical measure that represents the amount of variation or dispersion from the average in a set of data.

Assignable Cause

A specific factor or reason for variation in a process that can be identified and managed.