A Group of Firms in an Industry Following the Same

question 37

True/False

A group of firms in an industry following the same or a similar strategy in a given target market is known as a strategic group.

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Definitions:

Z-scores

A statistical measurement of a score’s relationship to the mean in a group of scores, indicating how many standard deviations an element is from the mean.

Standard Normal Distribution

A probability distribution that has a mean of zero and a standard deviation of one, commonly represented in statistics.

Less Than

A mathematical comparison indicating that one value is smaller than another.

Z-scores

Scores that are normalized to show the number of standard deviations a data point is away from the average.