Most Banks Implement Customer Retention Programs Aimed at Their Best

question 84

Multiple Choice

Most banks implement customer retention programs aimed at their best customers. They do this because they know that retaining customers usually results in

• A)a product development growth strategy.
• B)an operational advantage.
• C)opportunities for diversification.
• D)increased long-term profits.
• E)more clearly defined market segments.

---

Definitions:

Mean

A measure of central tendency that is calculated by adding up all the values in a set and then dividing by the number of values.

Standard Deviation

An appraisal of the diversity or spread level exhibited by a collection of figures.

Normally Distributed

Refers to a probability distribution which is evenly shaped around the mean, indicating that occurrences of data close to the mean are more common than occurrences of data distant from the mean.

Mean

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