The Value to Consumers That Comes from Having the Offering

question 66

Multiple Choice

The value to consumers that comes from having the offering available where consumers need it constitutes __________ utility.

• A) time
• B) place
• C) possession
• D) market
• E) form

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Definitions:

Random Variable

A Random Variable is a variable whose possible values are numerical outcomes of a random phenomenon.

Normal Curve

A symmetrical, bell-shaped distribution where most occurrences take place around the mean and probabilities for values taper off as they move away from the mean.

Standard Deviation

A statistic that measures the dispersion or variability of a dataset relative to its mean, used to quantify the amount of variation.

Mean

The average of a set of numbers, calculated by dividing the sum of these numbers by their quantity.