When Retailers Use the Information Gathered About Their Customers' Behavior

question 1

Multiple Choice

When retailers use the information gathered about their customers' behavior in order to predict consumer trends, forecast demand, or identify consumer interest in products, they do so by applying

• A)journey mapping.
• B)category management.
• C)the marketing mix.
• D)big data analytics.
• E)merchandising techniques.

Understand and apply the Poisson distribution to model certain types of random events.

Evaluate statistical evidence to determine if an outcome is significantly unusual.

Understand the concept of variability in the context of probability distributions.

Apply probability concepts to real-world scenarios to make predictions.