Suppose that we have customer data on recency, frequency, and monetary value for our customer database The first three tables below display the quintile breakpoints for the R, F, and M variables The final table displays the R, F, and M values for three customers in the database Lionel, Jaineel, and Taj Please use these tables to answer the following questions RECENCY Break points for quintiles Recency (Days) 100 1 80 114 60 180 40 296 20 481 0 976 FREQUENCY Break points for quintiles Frequency 100 14 80 7 60 5 40 4 20 3 0 1 MONETARY Break points for quintiles Revenue ($) 100 1488 80 665 60 505 40 381 20 254 0 12 Customer Recency (Days) Frequency Monetary ($) R F M RFM Lionel 205 6 472 Jaineel 90 9 843 Taj 619 4 196 (a) What is the range of values for the third quintile of recency (b) What is the range of values for the lowest quintile of monetary (c) What would the RFM classification be for each of the three customers

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Question: Suppose that we have customer data on recency, frequency, and monetary value for our customer database. The first three tables below display the quintile breakpoints

Suppose that we have customer data on recency, frequency, and monetary value for our customer database. The first three tables below display the quintile breakpoints for the R, F, and M variables. The final table displays the R, F, and M values for three customers in the database: Lionel, Jaineel, and Taj. Please use these tables to answer the following questions.

RECENCY

Break points for quintiles	Recency (Days)
100%	1
80%	114
60%	180
40%	296
20%	481
0%	976

FREQUENCY

Break points for quintiles	Frequency
100%	14
80%	7
60%	5
40%	4
20%	3
0%	1

MONETARY

Break points for quintiles	Revenue ($)
100%	1488
80%	665
60%	505
40%	381
20%	254
0%	12

Customer	Recency (Days)	Frequency	Monetary ($)	R	F	M	RFM
Lionel	205	6	472
Jaineel	90	9	843
Taj	619	4	196

(a) What is the range of values for the third quintile of recency? (b) What is the range of values for the lowest quintile of monetary? (c) What would the RFM classification be for each of the three customers?

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