When created effectively, this process ensures the success of an organizationâs marketing strategy. When you focus on the implementation phase of the process, which is the putting of the marketing strategies and plans into action, there are ways to help make this step as successful as possible.
For example, we use the sample mean as an unbiased estimator for the population mean. (Mathematically, it can be shown that the expected value of the sample mean is equal to the population mean). In the case of estimating the population standard deviation, the sample standard deviation is an unbiased estimator too.
If the data set follows a Normal distribution, standard deviation tells you a great deal about how spread out your samples are and the number of samples you can expect at various distances from the mean. If the data set is non-normal, standard deviation is a lot less useful most of the time. But there is still Chebyshev's inequality, which can give you some potentially useful bounds that apply even to non-normal distributions. (At least 1-1/k^2 of the distribution's values are within k standard deviations of the mean.)