When a Marketing Manager Reads Publications Like the Wall Street

question 52

Multiple Choice

When a marketing manager reads publications like The Wall Street Journal and Business Week to try to determine changes in consumer behavior,this is a form of:

• A)environmental scanning
• B)model building
• C)database marketing
• D)data mining

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Definitions:

Mean

The arithmetic average of a set of numbers, calculated by adding them together and dividing by the number of values.

Standard Error

The standard deviation of the sampling distribution of a statistic, measuring its accuracy as an estimate of the population parameter.

Confidence Interval

A range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter with a specified level of confidence.

Point Estimate

Single value used to estimate an unknown population parameter.