What Is the Value Frontier? How Do Marketers Benefit from Understanding

question 6

Essay

What is the value frontier? How do marketers benefit from understanding the value frontier?

---

Definitions:

Friedman Test

An analysis technique without reliance on parameter assumptions for discerning treatment disparities across multiple testing occasions.

Distribution

The way in which something is shared out among a group or spread over an area, or the set of all possible values of a variable and how frequently they occur.

P-value

The probability of observing a test result at least as extreme as the one observed, under the assumption that the null hypothesis is true.

Kruskal-Wallis Test

The Kruskal-Wallis test is a non-parametric method for testing whether samples originate from the same distribution, used when the assumptions of one-way ANOVA are not met.