What Can Analytical CRM Modeling Tools Discover

question 5

Multiple Choice

What can analytical CRM modeling tools discover?

• A) Identify opportunities for expanding customer relationships.
• B) Identify opportunities for cross-selling.
• C) Identify opportunities for up-selling.
• D) All of these.

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Definitions:

Discrete Probability Distributions

Probability distributions that characterize the outcomes of experiments with discrete outcomes, specifying the probability of each outcome.

Binomial Probabilities

The probabilities of obtaining a given number of successes in a fixed number of binary trials.

Normal Random Variable

A normal random variable is a variable whose values are subject to fluctuations according to a normal distribution.

Standard Deviations

A measure of the dispersion or variability in a dataset, indicating how much individual data points deviate from the mean.