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The desired image for the business, the target market the owner is trying to reach, and the prices charged are all closely related to one another.
Standard Normal Distribution
A statistical distribution that has a mean of zero and a standard deviation of one, used in hypothesis testing and other statistical analyses.
Z-scores
A measure that describes a value's relationship to the mean of a group of values, expressed in units of standard deviation.
Standard Normal Distribution
A probability distribution that has a mean of 0 and a standard deviation of 1, representing a standardized version of the normal distribution.
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