Belk Department Store Is Having a Special Sale This Weekend

question 16

Multiple Choice

Belk Department Store is having a special sale this weekend. Customers charging purchases of more than $50 to the Belk credit card will be given a special Belk lottery card. The customer will scratch the card, which will indicate the amount to be taken off the total amount of purchase. Listed below is the amount of the prize and the percent of the time that amount will be deducted from the total amount of the purchase Determine the mean and standard deviation of the prize amount.

• A) Mean is $21, standard deviation is $16.09
• B) Mean is $21, standard deviation is $710.50
• C) Mean is $20, standard deviation is $25.00
• D) Mean is $20, standard deviation is $26.66
• E) Mean is $46.25, standard deviation is $710.50

Recognize the method of dividing a larger market into smaller groups based on shared characteristics.

Understand the role of psychographic, demographic, and behavioral segmentation in marketing.

Identify the sources of demographic information and their importance in market segmentation.

Understand the application of segmentation strategies in targeting specific consumer groups.

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Definitions:

CPT

Current Procedural Terminology; a set of codes used by healthcare professionals to report and document medical, surgical, and diagnostic services.

ICD

International Classification of Diseases, a system of codes used for classifying diagnoses, symptoms, and procedures.

Upcoding

The fraudulent practice of using billing codes that indicate a more expensive service was performed than was actually provided, to increase reimbursement from Medicare or insurance.

Increased Revenue

An upward trend in the amount of money generated from the sales of goods or services within a company.