The Term or Phrase That Refers to the Way That

question 122

Multiple Choice

The term or phrase that refers to the way that marketers identify prospective customers is ________.

• A)mining
• B)prospecting
• C)hunting
• D)phishing
• E)converting

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Definitions:

Central Limit Theorem

A statistical theory stating that the sampling distribution of the sample mean approaches a normal distribution as the sample size becomes large, regardless of the shape of the population distribution.

Expected Opportunity Loss

The expected loss resulting from not choosing the best alternative action.

Perfect Information

A situation in decision making where all parties have full and equal knowledge of all relevant facts and outcomes.

Certainty

Absolute confidence in the accuracy or outcome of an event, often not attainable in statistical measurements.