Data Mining Identifies the Most Profitable Customers and Prospects

question 125

Multiple Choice

Data mining identifies the most profitable customers and prospects.Managers can then design tailored marketing strategies to best appeal to the identified segments.In CRM this is commonly referred to as _____ customer information to facilitate enhanced relationships with customers.

• A) manipulating
• B) leveraging
• C) harvesting
• D) converting
• E) managing

Estimate costs using the least-squares regression method.

Calculate total variable cost per unit.

Determine the total fixed manufacturing cost.

Estimate total monthly fixed selling and administrative expenses.

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Definitions:

Test Statistic

A value calculated from sample data during hypothesis testing. It is used to decide whether to reject the null hypothesis.

Significance Level

The probability of rejecting the null hypothesis when it is true; a threshold for determining whether a result is statistically significant.

Dividend Payout

The portion of earnings distributed to shareholders in the form of dividends, typically expressed as a percentage of the company's earnings.

Cost Of Goods Sold

The direct costs attributable to the production of the goods sold by a company. This includes both the materials and labor costs.