Using MIS (10th Edition)
10th Edition
ISBN: 9780134606996
Author: David M. Kroenke, Randall J. Boyle
Publisher: PEARSON
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Expert Solution & Answer
Chapter 9, Problem 9.5UYK
Explanation of Solution
Use of knowledge about Lift for major national big-box stores:
- Market basket analysis is used to find the pattern of items bought by the customers and predict the future purchase decisions of the customers.
- It determines how the customers buy goods together and the seller needs to know this pattern as more cross selling opportunity can be created.
- A lift compares products and shows the relative increase or decrease in base probability of one product when other products are purchased.
- If one can know all the items that have a high lift then he or she can take advantage of that knowledge.
- The store can have lucrative offers and discount on one item with the added knowledge that the probability of sale of the related item also increases by a lot.
- The store put the items together physically or sells both the items in a combo package knowing that most likely both the items will be purchased together.
For example:
One can place a particular brands conditioner along with the same brands shampoo as a combo package knowing the probability that if a customer purchases shampoo, he or she is most likely to buy conditioner of the same brand...
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Students have asked these similar questions
Q2. What is the algorithm distinguishing whether customers who use a product leave about a certain product?
1) Classification analysis
2) Regression analysis
3) Cluster analysis
4) Discriminant analysis
The spreadsheet for Drano Plumbing Company was being prepared by Damon Davis. He estimated that the net income would be $50,000 in his calculations. His Total Balance Sheet Columns showed a deficit of $400,000 and a credit of $300,000, which he added together and calculated as follows: Who knows what the most likely reason was for this discrepancy. Shouldn't this be the case, what should he do to identify the source of the problem?
19.
What is the major advantage of using Incremental Model?
a.
Customer can respond to each increment
b.
Easier to test and debug
c.
It is used when there is a need to get a product to the market early
d.
Both b & c
Chapter 9 Solutions
Using MIS (10th Edition)
Ch. 9.3 - Prob. 1EGDQCh. 9.3 - Prob. 2EGDQCh. 9.3 - Prob. 3EGDQCh. 9.3 - Prob. 4EGDQCh. 9.6 - Prob. 1BFSQCh. 9.6 - Prob. 2BFSQCh. 9.6 - Prob. 3BFSQCh. 9.6 - Prob. 4BFSQCh. 9.9 - Prob. 1SGDQCh. 9.9 - Prob. 2SGDQ
Ch. 9.9 - Prob. 3SGDQCh. 9.9 - Prob. 4SGDQCh. 9.9 - Prob. 5SGDQCh. 9.9 - Prob. 9.1ARQCh. 9.9 - Prob. 9.2ARQCh. 9.9 - Prob. 9.3ARQCh. 9.9 - Prob. 9.4ARQCh. 9.9 - Prob. 9.5ARQCh. 9.9 - Prob. 9.6ARQCh. 9.9 - Prob. 9.8ARQCh. 9.9 - Prob. 9.9ARQCh. 9 - Prob. 9.1UYKCh. 9 - Prob. 9.2UYKCh. 9 - Prob. 9.3UYKCh. 9 - Prob. 9.4UYKCh. 9 - Prob. 9.5UYKCh. 9 - Prob. 9.6UYKCh. 9 - Prob. 9.7UYKCh. 9 - Prob. 9.8UYKCh. 9 - Prob. 9.9CE9Ch. 9 - Prob. 9.1CE9Ch. 9 - Prob. 9.11CE9Ch. 9 - Prob. 9.12CE9Ch. 9 - Prob. 9.13CE9Ch. 9 - Prob. 9.14CE9Ch. 9 - Prob. 9.15CE9Ch. 9 - Prob. 9.16CS9Ch. 9 - Prob. 9.17CS9Ch. 9 - Prob. 9.18CS9Ch. 9 - Prob. 9.19CS9Ch. 9 - Prob. 9.22MML
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