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Effectiveness of sales closing techniques. Industrial

Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich ISBN: 9780321826237 51

Solution for problem 31E Chapter 9

Statistics for Business and Economics | 12th Edition

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Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich

Statistics for Business and Economics | 12th Edition

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Problem 31E

Problem 31E

Effectiveness of sales closing techniques. Industrial sales professionals have long debated the effectiveness of various sales closing techniques. For example, a University of Akron study investigated the impact of five different closing techniques and a no-close condition on the level of a sales prospect’s trust in the salesperson (Industrial Marketing Management, Sept. 1996). More recently, a B2B Marketing Insider blog (Oct. 7, 2010) examined five currently- used sales closing techniques. Consider the following study. Sales scenarios are presented to a sample of 230 purchasing executives. Each subject received one of the five closing techniques or a scenario in which no close was achieved. After reading the sales scenario, each executive was asked to rate his/her level of trust in the salesperson on a 7-point scale. The table reports the six treatments employed in the study and the number of subjects receiving each treatment.

a. Consider the following hypotheses: H0: The salesperson’s level of prospect trust is not influenced by the choice of closing method. Ha: The salesperson’s level of prospect trust is influenced by the choice of closing method. Rewrite these hypotheses in the form required for an analysis of variance.

b. Assume the ANOVA F-statistic is F = 2.21. Is there sufficient evidence to reject H0 at α = .05?

c. What assumptions must be met for the test of part a to be valid?

d. Would you classify this experiment as observational or designed? Explain.

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Business and Government Week 8 Government Regulation: Economic Antitrust Bad things about monopolies Underproduce, monopoly profits Japan and Germany not as concerned about monopolies State/public monopolies tend to overproduce; private ones tend to underproduce Trusts- few very large sellers coordinating together to avoid market forces Senator John Sherman (R-Ohio) - Sherman Act 1890 Made it illegal to monopolize or conspire to restrain trade Identification of monopolization- suppress competition, prevent firms entering market Number of sellers- one dominant seller, but there could still be fringe companies Market share- close to 100% control of market Oligopoly- multiple lar

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Chapter 9, Problem 31E is Solved
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Textbook: Statistics for Business and Economics
Edition: 12
Author: James T. McClave, P. George Benson, Terry T Sincich
ISBN: 9780321826237

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Effectiveness of sales closing techniques. Industrial