The Two Key Types of Data Used to Explain the 80/20

question 17

True/False

The two key types of data used to explain the 80/20 rule are the number and percent of offenses that occurred by address and the number of addresses that have suffered multiple offenses.

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Definitions:

Multichannel

Refers to using multiple channels of distribution or communication to reach a customer, often in marketing or retail contexts.

Multiphase

Relating to a system or process that involves more than one phase or stage, typically used in physics and engineering contexts.

Cross-Phase System

A system that operates or interacts across different phases or stages of a process or lifecycle.

Population's Statistical Distribution

A mathematical function that describes the likelihood of various outcomes in a population.