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What Are the Seven Steps in New Product Development

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What are the seven steps in new product development?


Definitions:

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.

Population Proportion

The proportion of a certain outcome or characteristic within an entire population.

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