Small Clothing Boutiques and Specialty Shops Often Start Because There

question 34

Multiple Choice

Small clothing boutiques and specialty shops often start because there is a need for a particular product but large retailers like Target, JC Penny, and Kohl's can't sell enough of the item to stock it on their shelves. If a clothing boutique started to sell designer clothes or clothing for hard-to-fit people because the clothing wasn't being offered by a larger retailer, the best way to describe how that idea was recognized is:

• A) finding a gap in the marketplace
• B) brainstorming
• C) observing trends
• D) solving a problem
• E) talking to consumers

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Definitions:

SSE

Sum of Squared Errors, a measure of the discrepancy between the data and an estimation model, indicating the total deviation of data points from the fitted values.

Estimated Income

An approximation of the amount of money expected to be earned over a specific period.

Yearly Income

The total amount of money earned or received over one year.

SST

SST stands for Sum of Squares Total, a term used in statistics to describe the total variation within a dataset.