Identify and Explain Each Element of the 5W Model for Customer

question 8

Essay

Identify and explain each element of the 5W model for customer analysis. What role does this analysis play in an overall situation analysis?

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Definitions:

Dependent Variable

The factor in a study or experiment that is anticipated to vary as a result of adjustments made to the independent variable.

Regression Analysis

A statistical method for estimating the relationships among variables, often to forecast future trends.

Regression Analysis

A statistical process for estimating the relationships among variables, often to determine the effect of one or more independent variables on a dependent variable.

Least Squares Line

A line of best fit determined by minimizing the sum of squares of the differences between observed and predicted values in regression analysis.