In a RFM Analysis,the R Stands for Recency,which Is the Date

question 117

True/False

In a RFM analysis,the R stands for recency,which is the date of the last purchase.

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Definitions:

Null Hypothesis

A hypothesis in statistical tests that assumes no effect or no difference between groups or conditions being compared.

Consecutive Weeks

A succession of weeks that occur consecutively without any breaks.

Confidence Interval

A variety of values, based on statistics from a sample, which is conjectured to envelop an obscure population parameter.

P-value

A statistical concept indicating the probability of observing data as extreme as those seen, if the null hypothesis were true, used in hypothesis testing.