Question 1

A reporting system that generates RFM data can be automated.

Accepted Answer

A) True 
 B)False

Question 2

RFM analysis can be a useful tool to determine the best customers based on the frequency of their purchases.

Accepted Answer

A) True 
 B)False

Question 3

A market-basket analysis shows the products that customers tend to buy together.

Accepted Answer

A) True 
 B)False

Question 4

Groups created by decision tree algorithms are as different from each other as possible.

Accepted Answer

A) True 
 B)False

Question 5

Cheryl Inc. ,a leading cosmetics manufacturer,wants to identify its most valued customers.Each customer is assigned an RFM score based on their purchasing patterns.One of their valued customers has an RFM score of 545.In this case,the ideal action for Cheryl's sales team is to ________.

Accepted Answer

A) up-sell more expensive goods to this customer 
B) contact this customer immediately 
C) not waste any time on this customer 
D) set up an automated contact system for this customer 
A) up-sell more expensive goods to this customer 
B) contact this customer immediately 
C) not waste any time on this customer 
D) set up an automated contact system for this customer

Question 6

Which of the following statements is true about decision trees?

Accepted Answer

A) Few decision trees can be transformed into a set of If/Then rules. 
B) Decision tree analysis is a supervised data mining technique. 
C) The algorithms used in decision trees are similar to each other. 
D) Decision tree programs produce computer programs for trees set up by analysts. 
A) Few decision trees can be transformed into a set of If/Then rules. 
B) Decision tree analysis is a supervised data mining technique. 
C) The algorithms used in decision trees are similar to each other. 
D) Decision tree programs produce computer programs for trees set up by analysts.

Question 7

The frequency of customer purchases is not a determining factor for RFM scores.

Accepted Answer

A) True 
 B)False

Question 8

The more frequently two items occur in the same transaction,the higher the probability of them being purchased together.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) confidence 
B) support 
C) cohesion 
D) assurance 
A) confidence 
B) support 
C) cohesion 
D) assurance

Question 10

________ is a way of analyzing and ranking customers according to their purchasing patterns.

Accepted Answer

A) Composite forecast 
B) RFM analysis 
C) Regression analysis 
D) Delphi technique 
A) Composite forecast 
B) RFM analysis 
C) Regression analysis 
D) Delphi technique

Question 11

What is database marketing?

Accepted Answer

Database marketing is the application of

Question 12

Which of the following RFM scores refers to the most valuable customer?

Accepted Answer

A) 111 
B) 555 
C) 123 
D) 333 
A) 111 
B) 555 
C) 123 
D) 333

Question 13

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

Accepted Answer

A) cohesion 
B) support 
C) confidence 
D) lift 
A) cohesion 
B) support 
C) confidence 
D) lift

Question 14

A minimum difference among groups is used as the criterion for constructing the decision tree.

Accepted Answer

A) True 
 B)False

Question 15

In RFM analysis,an F score of 1 shows that ________.

Accepted Answer

A) a customer has bought the least expensive items 
B) a customer has frequently placed orders 
C) a customer has always bought the most expensive items 
D) a customer has rarely made a purchase 
A) a customer has bought the least expensive items 
B) a customer has frequently placed orders 
C) a customer has always bought the most expensive items 
D) a customer has rarely made a purchase

Question 16

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

Accepted Answer

A) RFM analysis 
B) market-basket analysis 
C) composite analysis 
D) regression analysis 
A) RFM analysis 
B) market-basket analysis 
C) composite analysis 
D) regression analysis

Question 17

RFM scores are basically beneficial to salespeople,as it gives a clear picture of a customer's buying pattern.

Accepted Answer

A) True 
 B)False

Question 18

Databases are not a key component of database marketing.

Accepted Answer

A) True 
 B)False

Question 19

Describe the process of conducting RFM analysis.

Accepted Answer

RFM analysis is a way of analyzing and r

Question 20

A high F score denotes that the customer has bought an expensive item recently.

Accepted Answer

A) True 
 B)False

Exam 24: Database Marketing

A reporting system that generates RFM data can be automated.

RFM analysis can be a useful tool to determine the best customers based on the frequency of their purchases.

A market-basket analysis shows the products that customers tend to buy together.

Groups created by decision tree algorithms are as different from each other as possible.

Cheryl Inc. ,a leading cosmetics manufacturer,wants to identify its most valued customers.Each customer is assigned an RFM score based on their purchasing patterns.One of their valued customers has an RFM score of 545.In this case,the ideal action for Cheryl's sales team is to ________.

Which of the following statements is true about decision trees?

The frequency of customer purchases is not a determining factor for RFM scores.

The more frequently two items occur in the same transaction,the higher the probability of them being purchased together.

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

________ is a way of analyzing and ranking customers according to their purchasing patterns.

What is database marketing?

Which of the following RFM scores refers to the most valuable customer?

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

A minimum difference among groups is used as the criterion for constructing the decision tree.

In RFM analysis,an F score of 1 shows that ________.

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

RFM scores are basically beneficial to salespeople,as it gives a clear picture of a customer's buying pattern.

Databases are not a key component of database marketing.

Describe the process of conducting RFM analysis.

A high F score denotes that the customer has bought an expensive item recently.

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