Question 1

The decision maker may use the IFERROR function when trying to avoid a division by zero error.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following serves as a definition for decision variables for recency and frequency?

Accepted Answer

A)  1 if customers in a given recency and frequency should not be reached; 0 otherwise 
B)  1 if customers in a given recency and frequency should be reached; 0 otherwise 
C)  1 if customers in a given recency or frequency should not be reached; 0 otherwise 
D)  1 if customers in a given recency or frequency should be reached; 0 otherwise 
A)  1 if customers in a given recency and frequency should not be reached; 0 otherwise 
B)  1 if customers in a given recency and frequency should be reached; 0 otherwise 
C)  1 if customers in a given recency or frequency should not be reached; 0 otherwise 
D)  1 if customers in a given recency or frequency should be reached; 0 otherwise

Question 3

An RFM model that combines any two dimensions, including recency-frequency value, recency-monetary value, or frequency-monetary value, and assigns priorities to each dimension is always:

Accepted Answer

A)  A goal programming model. 
B)  A linear programming model. 
C)  A non-linear programming model. 
D)  None of the above can be used to formulate such a model 
A)  A goal programming model. 
B)  A linear programming model. 
C)  A non-linear programming model. 
D)  None of the above can be used to formulate such a model

Question 4

An RFM model that combines any two dimensions, including recency-frequency value, recency-monetary value, or frequency-monetary value, is always:

Accepted Answer

A)  A goal programming model. 
B)  A linear programming model. 
C)  A non-linear programming model. 
D)  None of the above can be used to formulate such a model. 
A)  A goal programming model. 
B)  A linear programming model. 
C)  A non-linear programming model. 
D)  None of the above can be used to formulate such a model.

Question 5

An RFM mathematical model that combines all three dimensions of an RFM model is always:

Accepted Answer

A)  A goal programming model. 
B)  A linear programming model. 
C)  A non-linear programming model. 
D)  None of the above can be used to formulate an RFM model. 
A)  A goal programming model. 
B)  A linear programming model. 
C)  A non-linear programming model. 
D)  None of the above can be used to formulate an RFM model.

Question 6

Goal programming models can be formulated for RFM analysis with three dimensions only.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is an RFM-based goal programming model?

Accepted Answer

A)  An RFM model that combines any two dimensions, including recency-frequency value, recency-monetary value, or frequency-monetary value 
B)  An RFM model that combines all three dimensions in one linear programming model 
C)  An RFM model that incorporates all three dimensions but assigns different weights to each 
D)  All of the above 
A)  An RFM model that combines any two dimensions, including recency-frequency value, recency-monetary value, or frequency-monetary value 
B)  An RFM model that combines all three dimensions in one linear programming model 
C)  An RFM model that incorporates all three dimensions but assigns different weights to each 
D)  All of the above

Question 8

Goal programming models can be formulated for RFM analysis with only a single dimension.

Accepted Answer

A) True 
 B)False

Question 9

The availability of Big Data allows the decision maker to use the RFM approach successfully by:

Accepted Answer

A)  Incorporating other metrics such as response rate. 
B)  Creating iso-profit lines. 
C)  Relating RFM with the concept of customer lifetime value. 
D)  All of the above 
A)  Incorporating other metrics such as response rate. 
B)  Creating iso-profit lines. 
C)  Relating RFM with the concept of customer lifetime value. 
D)  All of the above

Question 10

All different RFM variations of linear programming models have an objective function that seeks to minimize the expected cost to reach potential customers.

Accepted Answer

A) True 
 B)False

The decision maker may use the IFERROR function when trying to avoid a division by zero error.

Which of the following serves as a definition for decision variables for recency and frequency?

An RFM model that combines any two dimensions, including recency-frequency value, recency-monetary value, or frequency-monetary value, and assigns priorities to each dimension is always:

An RFM model that combines any two dimensions, including recency-frequency value, recency-monetary value, or frequency-monetary value, is always:

An RFM mathematical model that combines all three dimensions of an RFM model is always:

Goal programming models can be formulated for RFM analysis with three dimensions only.

Which of the following is an RFM-based goal programming model?

Goal programming models can be formulated for RFM analysis with only a single dimension.

The availability of Big Data allows the decision maker to use the RFM approach successfully by:

All different RFM variations of linear programming models have an objective function that seeks to minimize the expected cost to reach potential customers.

Business Analytics With Management Science

Introduction to Linear Programming

Business Analytics With Linear Programming

Business Analytics With Nonlinear Programming

Business Analytics With Goal Programming

Business Analytics With Integer Programming

Business Analytics With Shipment Models

Marketing Analytics With Linear Programming

Business Analytics With Simulation

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Exam 9: Marketing Analytics With Multiple Goals

The decision maker may use the IFERROR function when trying to avoid a division by zero error.

Which of the following serves as a definition for decision variables for recency and frequency?

An RFM model that combines any two dimensions, including recency-frequency value, recency-monetary value, or frequency-monetary value, and assigns priorities to each dimension is always:

An RFM model that combines any two dimensions, including recency-frequency value, recency-monetary value, or frequency-monetary value, is always:

An RFM mathematical model that combines all three dimensions of an RFM model is always:

Goal programming models can be formulated for RFM analysis with three dimensions only.

Which of the following is an RFM-based goal programming model?

Goal programming models can be formulated for RFM analysis with only a single dimension.

The availability of Big Data allows the decision maker to use the RFM approach successfully by:

All different RFM variations of linear programming models have an objective function that seeks to minimize the expected cost to reach potential customers.

Business Analytics With Management Science

Introduction to Linear Programming

Business Analytics With Linear Programming

Business Analytics With Nonlinear Programming

Business Analytics With Goal Programming

Business Analytics With Integer Programming

Business Analytics With Shipment Models

Marketing Analytics With Linear Programming

Business Analytics With Simulation

Filters