The Two Aspects of the Process for Evaluating the Results

question 174

Multiple Choice

The two aspects of the process for evaluating the results of a marketing decision are evaluating the decision itself and __________.

• A)evaluating the sales results.
• B)conducting a SWOT analysis.
• C)evaluating the decision process used.
• D)beginning a new environmental scan.
• E)reallocating resources to become more efficient and effective

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Definitions:

Experiments

Empirical procedures carried out in controlled conditions to verify the validity of hypotheses or determine the efficacy of something previously untried.

Random Events

Outcomes or occurrences that are unpredictable and determined entirely by chance.

Probability

The measure of the likelihood that an event will occur, quantified as a number between 0 and 1, with 1 indicating certainty.

Tree Diagram

A diagram used to show the total number of possible outcomes in a probability experiment.