In Which Phase of the Customer Life Cycle Do Processes

question 91

Multiple Choice

In which phase of the customer life cycle do processes categorize customers according to value and attempt to win back high-value customers?

• A) loss/churn
• B) customer acquisition
• C) relationship management
• D) marketing

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Definitions:

Bootstrap Method

A method for estimating population statistics by repeatedly sampling from a dataset with replacement.

Resamples

The act of taking repeated samples from the same dataset, typically used in bootstrapping or permutation tests to generate a sampling distribution.

Standard Deviation

This metric calculates the dispersion of a dataset relative to its mean, demonstrating how spread out the numbers are.

Histogram

A graphical representation of data that groups numbers into ranges, showing the frequency of data within each range via bars.