20) Describe the process of conducting RFM analysis. 21) Which of the following is a data mining technique for determining sales patterns? A) RFM analysis B) market-basket analysis C)...

20) Describe the process of conducting RFM analysis.

21) Which of the following is a data mining technique for determining sales patterns?

A) RFM analysis

B) market-basket analysis

C) composite analysis

D) regression analysis

22) In marketing transactions, the fact that customers who buy product X also buy product Y creates a ________ opportunity.

A) relationship selling

B) cross-selling

C) value added selling

D) persuasive selling

23) In market-basket terminology, the term used to represent the probability that two items will be purchased together is ________.

A) confidence

B) support

C) cohesion

D) assurance

24) In market-basket terminology, a conditional probability estimate is referred to as ________.

A) support

B) cohesion

C) confidence

D) chance

25) In market-basket terminology, the ratio of confidence to the base probability of buying an item is called ________.

A) cohesion

B) support

C) confidence

D) lift