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- COLUMN X COLUMN Y Q.1.2.1 The analyst manipulates certain variables under controlled conditions. A. Statistics Q.1.2.2 Generalises sample findings to the broader population. B. Ordinal-scaled data Q.1.2.3 Describes a characteristic of a sample. C. Statistical modelling Q.1.2.4 Categorical data, where the categories have an implied ranking. D. Inferential statistics Q.1.2.5 Any attribute of interest on which data are collected and analysed. E. Data Q.1.2.6 A set of mathematically based tools & techniques that transform raw data into information to support effective decisionmaking. F. Descriptive statistics Q.1.2.7 The actual values or outcomes recorded on a random variable. G. Parameter Q.1.2.8 Condenses sample data into a few summary measures H. Random variable Q.1.2.9 The collection of all possible observations that exist for the random variable under study. I. Experimentation Q.1.2.10 Describes a characteristic of a population. J. Statistic K. Continuous data L. PopulationADVERSE SELECTIONSomet Health Insurance Company wants to sell a health insurance product for $700 permonth. There is no requirement for healthy people to have insurance coverage. Thecompany conducts a survey to see how different populations respond to the proposed cost.People with no illnesses and disabilities, generally the young and healthy, respond that theydo not spend $700 on healthcare in an entire year, and most feel they would not waste somuch money on premiums when the chance of needing surgery or expensive healthcaretreatments is so small. However, older, sicker people think that $700 per month is a greatdeal, as most of them spend far in excess of this amount on healthcare. It seems like agreat deal for them.1. If the company offers this product, how will adverse selection affect it?Ouestion 1 i Information Quality is important to any business. Discuss 2 common characteristics ofhigh quality information and state the business values of Information Quality and Information consistency. Business Value- ii. A data — driven website is an interactive website kept constantly updated and relevant to the needs of its customers using a database. Discuss two advantages of data driven websites. iii. Business intelligence can provide managers with the ability to make better decisions. Explain how the following industries use business intelligence to make better decisions: a. Airlines: b. Health Care c. Marketing : d. IT Industry
- ____Better Business Bureau 1. A give and take between participants ____Mediation 2. Legal process involving fact finding and decision ____Arbitration 3. Process to resolve difference between participants, not legally binding ____negotiation 4. Plays a leadership role in resolving customer and business complaints Match the word in the left column with the definition in the right column (8) ____Service Recovery 1. Includes body language and eye contact ____Standards 2. A benchmark to achieve or exceed ____Softening techniques 3. Database used by CSR’s on resolving customer service issues ____Knowledge base 4. Providing solutions to customer problems in an effort to retain the customeranswer completly. u definetly get upvoteIndustry’s critics say chemical manufacturers should bear theburden of proof for the safety of their products before theyhit the market. Industry’s supporters say that mandating moresafety research will hamper the introduction of products thatconsumers want and increase the price of products. What doyou think? Should government follow the precautionary principleand require proof of safety prior to a chemical’s introductioninto the market?
- 11.The ___________ is the set of controllable variables that the firm use to influence the buyer’s a. All of the answers are correct b. Management Process c. Marketing Mix d. Marketing Strategy 12.Barriers to entry is part of ___________. a. Threats of new entrants b. Market Rivalry c. Competitive Advantage d. All of the answers are correct 13.The ___________ is how much the consumer will pay. a. Product b. Promotion c. Price d. Place 14.___________ describes the unique features of products and services provided to customers that is different from any competitors in the market. a. Selling Features b. Value Proposition c. Unique Product d. None of the answers are correct 15.The ___________ is a customer segment which focuses on a wide range of potential customers. a. Management Strategy b. Mass Market c. Niche Market d. All of the answers are correct 16.___________ is the way you let your customers know about, sell, deliver, and maintain your products and services. a. Marketing Strategy…Paraphrase this one. Make the words simpler. Predictive analytics is a potent tool that enhances decision-making, confers competitive advantage, and facilitates risk management. It leverages data and statistical models to identify patterns and trends, utilizing this information to predict future outcomes. The primary advantage of predictive analytics is its capacity to aid organizations in making better decisions. Through data analysis and pattern recognition, predictive analytics enables organizations to identify potential opportunities and risks, leading to decisions that are more informed and aligned with their goals. For instance, predictive analytics can identify customer segments likely to yield higher profits or highlight areas of risk requiring attention. Moreover, predictive analytics empowers organizations to gain a competitive edge. By analyzing data to uncover patterns and trends, organizations can glean insights into their competitors' strategies and operations. These…Their board of directors in 2014 was delighted with their cash flow and profits. However, they were concerned about future growth because of changing diets of many consumers who had become more concerned about consuming milk-based products. The company had already added low-fat versions of the major products but the board members were concerned that this would not be sufficient to sustain their growth and profits. Some possibilities that were suggested for consideration included (1) setting up a new company to produce non-dairy-based products such as almond milk and other alternatives to cow milk. All the new products would have a healthy “spin” such as the White Wave company; (2) market expansion of their existing product lines into Mexico and Central America; (3) expanding their current product offerings by adding ice cream, high-end cheeses made from goat and sheep milk, and high-end milk-based candy; and (4) a combination of one or more of these alternatives. 1. Evaluate all…
- Pls dont solve wrongly, else i will dislike and report youheeelppppSUBJECT : Research methods in social sciences need explanation Q.1 Data may contain illogical, inconsistent, or illegal information returned by the participants of the study. Explain the difference between illogical, inconsistent, and illegal data.?