Examlex
As a rule of thumb, the Poisson distribution can be used to approximate a binomial distribution when n ≥ 20 and π ≤ .05.
Coordination Gains
Benefits that arise from individuals or groups working together effectively, particularly in the allocation of resources or in achieving common objectives.
Product Variety
The assortment of different products or services offered by a firm or present in a market.
Product Differentiation
The strategy of highlighting what makes a product or service unique in the market to boost its appeal to a particular target group.
Innovation
The process of transforming ideas into new or improved products, services, or processes, driving economic growth and solving problems.
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