Airlines Have Developed Frequent-Flyer Programs to Encourage Passengers to Use

question 32

Multiple Choice

Airlines have developed frequent-flyer programs to encourage passengers to use the same airline repeatedly.This marketing strategy is based on

• A)geographic segmentation.
• B)behavioral segmentation.
• C)psychographic segmentation.
• D)demographic segmentation.
• E)buying condition segmentation.

Apply mathematical formulas to solve problems related to finance.

Understand the concept of no-fault auto insurance and its impact on claims and payouts.

Compute savings on premiums for low and high-risk drivers over specified periods.

Analyze and calculate insurance refunds and costs associated with policy cancellations and changes in coverage.

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Definitions:

Probability Distribution

Describes the spread of possible values for a random variable, detailing the probability of each outcome.

Error Variable

A variable in statistical models that represents the deviation of observed values from the predicted values, reflecting unexplained or random variation.

Normal

Referring to a bell-shaped distribution that is symmetric about its mean, used in statistics to describe well-behaved data sets.

Total Variation

The overall measure of the spread or dispersion of a set of data points from the mean or expected value.