Statistically Significant Differences Are the Beginning Point for Market Segmentation

question 43

Multiple Choice

Statistically significant differences are the beginning point for market segmentation and savvy target marketing.Meaningfulness,stability,and actionability are not statistical issues;rather,they are ________.

• A)marketing manager judgment calls
• B)determined by outside market factors
• C)sales management judgment calls
• D)determined by internal corporate factors

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Definitions:

Absolute Value

A numerical value without regard to its sign, often represented as the distance of a number from zero on the real number line.

One-tailed

A one-tailed test in statistics is a hypothesis test where the region of rejection is on only one side of the sampling distribution, focusing on a direction of interest.

Two-tailed

A statistical test that considers both directions for the possibility of a relationship in the population, not just one or the other.

Very Significant Correlation

A strong and meaningful relationship between two variables indicated by statistical measures that far exceed the thresholds of significance.