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List and Explain Some of the Reasons Why New Products

question 50

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List and explain some of the reasons why new products fail.


Definitions:

Degrees of Freedom

The number of independent values or quantities that can be assigned to a statistical distribution or to a system of equations, minus the number of equations constraining them, crucial in significance testing.

Completely Randomized Design

A type of experimental design where all subjects are randomly assigned to treatments without any restrictions or stratifications.

Test Statistic

A value calculated from sample data during a hypothesis test, used to determine whether to reject the null hypothesis.

Mean Square

A method used in statistical analysis that takes the sum of squares of variables divided by their degrees of freedom, often used in the context of ANOVA.

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