A Loyalty Card/program Is a Device That Keeps Track of the Amount

question 62

True/False

A loyalty card/program is a device that keeps track of the amount of purchasing a consumer has had with a given marketer; once some level is reached, a reward is offered usually in terms of future purchase incentives.

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Definitions:

Standard Deviation

Standard deviation is a statistical measure of the dispersion or variability of a set of data points around their mean, indicating how spread out the data points are.

Mean

A measure of central tendency that is calculated by dividing the summation of all values in a data set by the number of values.

Laws Of Variance

Principles that describe how variance behaves in different statistical distributions and under various transformations.

Probability Distribution

A function in mathematics that determines the chances of different outcomes for a given experiment.