EBK USING MIS
10th Edition
ISBN: 8220103633642
Author: KROENKE
Publisher: YUZU
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Chapter 9, Problem 9.22MML
Explanation of Solution
Retailer’s role:
As a retailer, one’s role in the organization is to provide ideas on how to increase sales. This is achieved by market analysis, which can be done using two approaches; they are,
- Recently (R), Frequency (F), and Money (M) approach and
- Market basket analysis.
Usage of RFM and market basket approach to increase sales:
RFM approach:
RFM approach deals with Recently (R), Frequency (F), and Money (M), which states the following:
- How recently customers purchased the goods?
- How often do the customers purchase goods?
- How much do they spend on goods?
Customer satisfaction using RFM model:
Segmenting the customer needs using just one parameter will not work every time and that is the reason RFM model can work efficiently for an online sports goods retailer.
By getting these details, it is possible to determine what the customers are actually looking for.
- With these details, the organization can segment the customers such as promising customers, loyal customers, recent customers, and so on...
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Scenario
You work for a small company that exports artisan chocolate. Although you measure your products in kilograms, you often get orders in both pounds and ounces. You have decided that rather than have to look up conversions all the time, you could use Python code to take inputs to make conversions between the different units of measurement.
You will write three blocks of code. The first will convert kilograms to pounds and ounces. The second will convert pounds to kilograms and ounces. The third will convert ounces to kilograms and pounds.
The conversions are as follows:
1 kilogram = 35.274 ounces
1 kilogram = 2.20462 pounds
1 pound = 0.453592 kilograms
1 pound = 16 ounces
1 ounce = 0.0283 kilograms
1 ounce = 0.0625 pounds
For the purposes of this activity the template for a function has been provided. You have not yet covered functions in the course, but they are a way of reusing code. Like a Python script, a function can have zero or more parameters. In the code window you…
make a screen capture showing the StegExpose results
Which of the following is not one of the recommended criteria for strategic objectives?
Multiple Choice
a) realistic
b) appropriate
c) sustainable
d) measurable
Chapter 9 Solutions
EBK USING MIS
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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