Which of the Following Categories of Modeling Techniques Involves Determining

question 41

Multiple Choice

Which of the following categories of modeling techniques involves determining the value of a dependent variable based on specific values of independent variables?

• A) Biased models.
• B) Descriptive models.
• C) Predictive models.
• D) Prescriptive models.

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Definitions:

Market-product Grid

A matrix used to analyze market segments and product offerings, helping businesses identify opportunities for growth and development.

Product-market Segment

A specific group of customers within a broader market who share similar needs and preferences that a company targets with its products or services.

Anticipated Revenue

The expected amount of money that an organization expects to receive over a certain period, based on forecasts and historical data.

Segmentation Variable

Criteria used to divide a market into smaller, more homogenous groups of customers based on characteristics like demographics, psychographics, or behavior.