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Matching business questions

You and your team are analyzing the performance of a new marketing campaign for a retail company. The goal is to understand what drives sales and optimize future strategies. Your dataset includes:

  • Monthly sales revenue (total amount earned from purchases)
  • Advertising spend (how much was invested in marketing each month)
  • Customer foot traffic (the number of people visiting the store)

For which business question would a multivariate distribution and joint probability be useful in analyzing the data?

This exercise is part of the course

Advanced Probability: Uncertainty in Data

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