Which of the following defines the probability of an event C, P(event C)?
a. The probability of C equals 1.
b. The probability of C equals the number of times C occurred divided by the total number of possible outcomes.
c. The probability of C equals the total number of outcomes possible divided by the number of times C occurred.
d. The probability of C equals the number of times C occurred.
Question 2
A key input variable in many marketing models of customer loyalty is the:
a. mean profit per customer
b. number of customers
c. churn rate
d. time horizon
e. all of these choices
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Probability Question
Probability Values of Chi-Square Analysis