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If You Were to Shop Regularly at a Clothing Store

question 75

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If you were to shop regularly at a clothing store and this store provided you with regular discounts on clothes because it recognized you as a valuable customer, this store would be employing what type of software?


Definitions:

Population Standard Error

A measure that estimates the variability of sample means around the population mean if multiple samples were taken from the population.

Confidence Interval

A band of values, yielded by analyzing sample data, which has a good chance of capturing the value of an unknown population variable.

Mean

The average value obtained by dividing the sum of all values in a set by the number of values.

Population Standard Error

A measure that estimates the standard deviation of the sampling distribution of a statistic for a population.

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