RBC Bank Wanted to Evaluate the Financial Value of Its

question 121

Multiple Choice

RBC Bank wanted to evaluate the financial value of its substantial personal customer base to determine their most valuable customers.

• A)data mining
• B)exploratory research
• C)focus groups
• D)marketing research
• E)probability sampling

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Definitions:

Chi-Squared Test

A statistical test used to determine if there's a significant difference between the observed frequencies and the expected frequencies in one or more categories.

Nominal Variables

Categorical variables that represent qualitative data with no intrinsic ordering or ranking between the categories.

Alternative Hypothesis

The hypothesis that contradicts the null hypothesis, representing the possibility that there is an effect or a difference.

Seat Belts

Safety devices designed to secure the occupant of a vehicle against harmful movement that may result during a collision or a sudden stop.