Customer Value

question 67

Multiple Choice

Customer value

• A) is greater if benefits exceed costs.
• B) becomes less important as competition increases.
• C) is the same thing as low price.
• D) affects a customer's relationship with a firm before and after a sale.
• E) both A and D are true.

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Definitions:

Standard Deviation

A metric that gauges the spread or deviation of a dataset in relation to its average, showing the extent to which the data points are scattered.

Mean

The average of a set of numbers, calculated by dividing the sum of all the values by the number of values.

Median

The middle value in a sorted list of numbers, which divides the data set into two halves.

IQR

Interquartile range, a measure of statistical dispersion being the difference between the 75th and 25th percentiles, or quartiles, in a data set.