A Major Catalogue Retailer Collects Data on 3,500 Variables Over

question 91

Multiple Choice

A major catalogue retailer collects data on 3,500 variables over the lifetime of a customer's relationship.

• A)customer retention
• B)market basket analysis
• C)customer acquisition
• D)customer accrual
• E)customer abandonment

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Definitions:

Good And Bad Lots

Terms used in quality control to distinguish between batches of products where good lots meet quality standards and bad lots fail to meet those standards.

Range Charts

A type of control chart used in statistical process control to monitor the dispersion or variability of a process.

X-bar Charts

A statistical tool used in quality control processes to monitor variations in the mean values of a process over time.

Average Outgoing Quality

The average quality level of units shipped to customers after defective units have been screened out or corrected.