Science Tech Inc

question 47

Essay

Science Tech Inc.is a company that provides lab supplies like scales and beakers.In order to find its most valuable customers, it has implemented a CRM program with RFM.One of its customers is Virginia Tech Labs (VT Labs).Science Tech has decided to weight recency with a 4, frequency with a 2, and monetary with a 7.VT Labs scored a 9 on recency, a 3 on frequency, and an 8 on monetary.What is VT Labs' RFM score?

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Definitions:

Employee Earnings Record

A record that keeps track of all wages, salaries, bonuses, and other forms of compensation paid to an employee.

Calendar Year

A period of one year that begins on January 1 and ends on December 31, used in most of the world as the primary timeframe for organizing a schedule of events.

W-4

A tax form used in the United States by employees to indicate their tax situation to their employer, determining the amount of taxes to be withheld from their paycheck.

Wage Base Limit

Wage base limit refers to the maximum income on which an individual is required to pay Social Security taxes in a given year.