Determining the Most Profitable Businesses and Customers and Focusing on Them

question 149

Multiple Choice

Determining the most profitable businesses and customers and focusing on them is called

• A) flattening.
• B) empowering.
• C) focusing.
• D) outsourcing.
• E) merging.

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Definitions:

R-Square

A statistical measure that represents the proportion of the variance for a dependent variable that's explained by an independent variable or variables in a regression model.

Prediction Interval Estimate

A prediction interval estimate is a range of values that is likely to include the value of a single new observation predicated on the existing data set.

Confidence Interval Estimate

A range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter at a specified confidence level.

Average Regression Interval

Average regression interval describes the range within which the average value of the dependent variable falls, based on a linear regression model.