What Is the Term That Defines How Recently a Customer

question 9

Multiple Choice

What is the term that defines how recently a customer purchased items?

• A) Recency
• B) Frequency
• C) Monetary value
• D) Reporting

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Definitions:

Sample Points

Represent individual observations or items selected from a larger population for the purpose of statistical analysis.

Tossing

The act of throwing an object into the air with the outcome subject to chance, often used in determining probabilities.

Six Sided Die

A common type of die used in games, having six faces numbered one through six, with each face having an equal probability of landing up.

Probability

An indicator of how probable an event is to happen, represented by a numerical value ranging from 0 to 1.