What Is the Purpose of Marketing Research

question 153

Short Answer

What is the purpose of marketing research?

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Definitions:

Standard Deviation

A statistical measure that quantifies the variability or spread of a dataset around its mean value.

Deviation

Difference between expected payoff and actual payoff.

Expected Value

The weighted average of all possible values of a random variable, with the weights being the probabilities of each outcome.

Absolute Value

The distance of a number from zero on the number line, disregarding its sign.