Sales Data Become Wisdom When They Provide Answers to Questions

question 52

True/False

Sales data become wisdom when they provide answers to questions of "who," "what," "where," "how much," and "when."

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Definitions:

Statistically Significant

A term indicating that a result from data analysis is not likely to occur by chance, implying it is meaningful in the context of the hypothesis being tested.

Sample Groups

Selected subsets of a population used in research studies to represent the entire group from which they were chosen.

Chance Variation

Random fluctuations that affect data or experimental outcomes, not attributable to any specific cause.

Populations

All the inhabitants of a particular town, area, or country, or a group of organisms of the same species living in the same area.