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Consider how buy classes affect buying center tendencies in different ways. Describe the buy-class situations, and discuss the implications for the organization of each type of buy class.
Margin of Error
The largest anticipated discrepancy between the actual population parameter and its estimate derived from a sample.
Normal Distribution
A symmetric, bell-shaped distribution of data in which most of the observations cluster around the central peak and the probabilities for values further away from the mean taper off equally in both directions.
Confidence Interval
A statistical range, with a certain level of confidence, that is likely to contain the true value of an unknown parameter.
Standard Error
The standard deviation of the sampling distribution of a statistic, often used to measure the precision of a sample mean.
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