Data-Mining Is About Probabilities, Not Certainties

question 22

True/False

Data-mining is about probabilities, not certainties. So sometimes a good model may look bad because of a string of bad luck.

Recognize the evolution and impact of sales roles within the marketing strategy of a firm, including order getting and order taking.

Understand the different roles within a sales team, such as order takers, order getters, sales engineers, and missionary salespeople.

Recognize the various orientations salespeople can have towards their work, such as customer and sales orientation.

Identify the types of buying decisions involved in sales, like new buys, modified rebuys, and straight rebuys.

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Definitions:

Goldsmiths

Historically, craftsmen who made objects out of gold, but in financial history, they are known for keeping gold deposits and issuing paper bank notes redeemable for gold.

Medium Of Exchange

An intermediary instrument or system used to facilitate the sale, purchase, or trade of goods and services between parties.

Reserve Ratio

The portion of depositors' balances that banks must have on hand as cash, a regulatory requirement meant to ensure bank stability and liquidity.

Total Deposits

The sum of all money that is deposited in a bank's accounts by its customers.