Database Elaboration Is the Addition of Information to Customer or Prospect

question 87

True/False

Database elaboration is the addition of information to customer or prospect records for the purpose of better describing or better determining the responsiveness of those customers or prospects.

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Definitions:

Chi-square Statistic

A measure used in statistics to assess how well an observed distribution matches an expected distribution, used in tests of independence and goodness of fit.

Degrees of Freedom

Degrees of freedom are the number of independent values or quantities which can be assigned to a statistical distribution without violating any constraining conditions.

Category Counts

The tally or frequency of occurrences within different categories or classifications in a dataset.

Probabilities

The likelihood or chance of different outcomes occurring, based on a scale from 0 to 1, where 0 means the outcome is impossible and 1 means the outcome is certain.