One of the Basic Principles Behind Segmentation Is That Subgroups

question 9

True/False

One of the basic principles behind segmentation is that subgroups of customers can be identified on some basis of similarity.

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Definitions:

Likelihood

A measure of the probability that an observed set of data would occur under a particular statistical model or hypothesis.

Sample Size

The number of subjects or units included in a study or experiment, impacting the validity and reliability of the statistical analysis.

Research Hypothesis

A statement made by researchers when they speculate upon the outcome of a research or experiment.

Binomial Distribution

A probability distribution that represents the number of successes in a fixed number of trials, each with the same probability of success.