Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Statistical modelling can predict aggregate behaviour. Find a restriction that statistical analysis poses. Choose one option only. (a) There is a limit to accuracy as

Statistical modelling can predict aggregate behaviour. Find a restriction that statistical analysis poses.

Choose one option only.

(a) There is a limit to accuracy as the conclusions cannot precisely represent any single customer.

(b) Metrics, such as an attrition rate or a likely response rate cannot be estimated.

(c) The data extracted cannot assist in planning managerial actions.

(d) A statistical model can only manage a sample population of a few thousand customers.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Operations Management

Authors: Jay Heizer, Barry Render, Paul Griffin

1st Canadian Edition

132687585, 978-0133357516, 133357511, 978-0132687584

More Books

Students also viewed these General Management questions