In Order to Be Potentially Useful for a Marketing Manager,differences

question 67

Multiple Choice

In order to be potentially useful for a marketing manager,differences must at minimum be:

• A)At a ratio of 2 to 1.
• B)Statistically significant.
• C)New and not part of existing knowledge.
• D)At a ratio of 10 to 1.

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Definitions:

Common Variation

Variability in data that is shared among all observations or variables being studied.

Randomly Occurring

Randomly occurring refers to events or phenomena that happen without a predictable pattern, often analyzed in probability and statistics to understand patterns and occurrences in data.

Assignable Variation

Variation in a process that can be traced to specific causes, as opposed to random or common cause variation.

Malfunctioned

Referred to when an item or system does not operate as intended or fails to perform its required function.