The Whale Curve of Cumulative Probability Demonstrates That the Most

question 35

True/False

The whale curve of cumulative probability demonstrates that the most profitable 20 percent of customers generate between 150 and 300 percent of total profits.

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Definitions:

Falsifiability

A principle stating that for a hypothesis to be scientifically valid, it must be possible to conceive an observation or an argument which could negate it.

Intuition

The ability to understand or know something immediately, based on feelings rather than facts.

Cognitive Biases

Systematic patterns of deviation from norm or rationality in judgment, whereby inferences about other people and situations may be drawn in an illogical fashion.

Motivational Biases

Distortions in perception or judgment caused by personal desires, needs, or emotions rather than evidence or reason.