Chebyshev's Theorem Says That at Most 50 Percent of the Data

question 140

True/False

Chebyshev's Theorem says that at most 50 percent of the data lie within 2 standard deviations of the mean.

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Definitions:

80/20 Principle

Also known as the Pareto Principle, it suggests that 80% of effects come from 20% of causes, commonly applied in business and productivity analysis.

Psychographic Characteristics

Attributes of consumers that relate to their personalities, values, attitudes, interests, and lifestyles.

Demographic Segmentation

The division of a market into segments based on variables such as age, gender, income, education, and family size to tailor marketing strategies.

Relationship Marketing

A marketing strategy focusing on long-term engagement and customer loyalty, rather than short-term goals or individual sales.