To Establish a CRM Program It Is Important to Know

question 133

Multiple Choice

To establish a CRM program it is important to know that all customers want:

• A)A deal.
• B)A rebate if the delivery is late.
• C)High quality,low price and on-time delivery.
• D)Anything they can get cheap.
• E)The very best regardless of the price.

---

Definitions:

Coefficient Of Determination

A statistical measure, often symbolized as R^2, that represents the proportion of the variance in the dependent variable predictable from the independent variable(s).

Correlation Coefficient

A measure that determines the degree to which two variables' movements are associated, ranging from -1 (perfect negative correlation) to +1 (perfect positive correlation).

Prediction Interval

An estimate of an interval in which future observations will fall, with a certain degree of confidence, based on a predictive model.

Linear Regression

A mathematical approach that models how a dependent variable changes based on one or several independent variables, by adapting a linear equation to the data collected.