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Define Demographics and Explain Why They Are Useful to Marketers

question 79

Essay

Define demographics and explain why they are useful to marketers.What specific demographic trends are of interest to marketers and why?


Definitions:

Binomial Probability

The probability of achieving a specific number of successes in a fixed number of independent trials, where each trial has two possible outcomes.

Normal Curve

A bell-shaped curve depicting the distribution of many types of data; most scores are near the mean, with fewer scores toward the extremes.

Normal Distribution

In this probability distribution, symmetry is observed around the mean, illustrating that nearer data points are more common than distant ones.

Sample Size

The number of observations or data points collected in a sample from a larger population.

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