Drawn from Internal Secondary Data, Customer Lifetime Value Profiles Include

question 61

True/False

Drawn from internal secondary data, customer lifetime value profiles include customer acquisition costs, the profits generated from individual sales to each customer, the costs of handling customers and their orders, and the expected duration of the relationship.

---

Definitions:

Lower Confidence Bound

The lower limit of a confidence interval, below which the true parameter of a population is expected not to fall.

Population Means

The average value of a particular characteristic in the entire population being studied.

Z-Value

A measure of how many standard deviations an element is from the mean.

Upper Confidence Bound

A value at the upper end of a confidence interval, indicating the highest value that, with a certain level of confidence, is believed to enclose the true population parameter.