Which Is Not a Likely Area of Application of Statistics

question 3

Multiple Choice

Which is not a likely area of application of statistics in business?

• A)Auditing supplier invoices for correct payment
• B)Questioning the executives' strategic decisions
• C)Looking for patterns in a large marketing database
• D)Making forecasts of several key product lines

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Definitions:

Centralizing Production

The process of consolidating production activities and operations into a single or fewer locations to improve efficiency and control.

Meganational Strategy

A business approach that emphasizes global-scale operations and market presence.

Differentiation Strategy

A marketing strategy in which a company develops a unique product or service to stand out from competitors.

Cost-Leadership

A competitive strategy that aims to achieve the lowest cost of operation within the industry, often leading to lower prices for consumers.