Regarding Correlations, Which of the Following Statements Is/are TRUE

question 197

Multiple Choice

Regarding correlations, which of the following statements is/are TRUE?

• A)Correlation demonstrates causation.
• B)We can conclude that a causal relationship exists solely on the basis of a correlation.
• C)An experiment must be performed to establish a causal relationship.
• D)All of these statements are true.

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Definitions:

Concept of Reciprocity

A social norm that involves mutual exchange of favors or privileges, where an act of generosity or kindness is repaid in kind.

Market Specialization

A strategy where a business focuses on a specific market niche, offering specialized products or services to satisfy the particular needs of that market segment.

Customized Marketing Programs

Tailored marketing strategies and campaigns designed to meet the specific needs and preferences of a targeted customer segment or individual customer.

Evoked Set

A group of relevant brands or products that a consumer recalls from memory when making a purchase decision.