Kay and Jenny's,a Restaurant,has Implemented a New System That Identifies

question 23

Multiple Choice

Kay and Jenny's,a restaurant,has implemented a new system that identifies and gathers information about its regular customers.It rewards the regular customers by giving them gift coupons and cash prizes.This is most likely an example of a(n) _____ system.​

• A)organizational optimization
• B)​profit maximization
• C)​total quality management (TQM)
• D)customer relationship management (CRM)

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Definitions:

Data Points

Individual measurements or observations collected during data gathering.

Residual Term

The difference between observed values and the estimated values in a regression model.

Random Error

An error in measurement caused by unpredictable fluctuations in the variables being measured.

Least Squares Regression Line

A straight line that best fits the data points in a scatter plot by minimizing the sum of the squares of the vertical distances (residues) of the points from the line.