Concept explainers
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, September 1996). More recently, a B2B Marketing Insider blog (October 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.
Treatments: Closing Techniques | Sample Size |
1 No close | 35 |
2 Financial close | 35 |
3 Time Line close | 30 |
4 Sympathy close | 40 |
5 The Visual close | 35 |
6 Thermometer close | 55 |
Source: Based on J M Hawes “Do Closing Techniques Diminish Prospect Trust?” from Industrial Marketing Management, September 1996, Vol 25(5) |
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.
Want to see the full answer?
Check out a sample textbook solutionChapter 9 Solutions
Statistics, Books a la Carte Edition (13th Edition)
- Is it possible to have several dependent variables in a model? Are several variables possible in a decision-making problem? Which model—descriptive, predictive, or prescriptive—of a particular choice issue would you be most likely to employ if it were offered to you? Why? Give an example of a well-known corporate, political, or military leader who made a choice that either had a positive or negative impact. What distinguishes a computer model from a spreadsheet model?arrow_forwardA market-research group specializes in providing assessments of the prospects of sites for new children’s toy stores in shopping centers. The group assesses prospects as good, fair, or poor. The records of assessments made by this group were examined, and it was found that for all stores that had annual sales over $1,000,000, the assessments were good for 70%, fair for 20%, and poor for 10%. For all stores that turned out to be unsuccessful, the assessments were good for 20%, fair for 30%, and poor for 50%. It is known that 60% of new clothing stores are successful and 40% are unsuccessful.a. For a randomly chosen store, what is the probability that prospects will be assessed as good?b. If prospects for a store are assessed as good, what is the probability that it will be successful?c. Are the events “prospects assessed as good” and “store is successful” statistically independent?d. Suppose that five stores are chosen at random. What is the probability that at least one of them will be…arrow_forwardSony Electronics produces a wide variety of electronic products for the consumer marketplace, such as laptop computers, PlayStation game consoles, and tablet computers. What type of products would these be considered in the Supply Chain Uncertainty Framework?arrow_forward
- In the book Business Research Methods (5th ed.), Donald R. Cooper and C. William Emory discuss studying the relationship between on-the-job accidents and smoking. Cooper and Emory describe the study as follows: Suppose a manager implementing a smoke-free workplace policy is interested in whether smoking affects worker accidents. Since the company has complete reports of on-the-job accidents, she draws a sample of names of workers who were involved in accidents during the last year. A similar sample from among workers who had no reported accidents in the last year is drawn. She interviews members of both groups to determine if they are smokers or not. The sample results are given in the following table. On-the-Job Accident Smoker Yes No Row Total Heavy 12 5 17 Moderate 9 10 19 Nonsmoker 13 17 30 Column total 34 32 66 Expected counts are below observed counts Accident No Accident Total Heavy 12 5 17 8.76 8.24…arrow_forwardIn the context of a Factorial Design, what is an interaction? What is an example of an interaction?arrow_forwardBrainstorm and briefly describe three scenarios for which a quasi-experimental design would be appropriate?arrow_forward
- As part of a study designed to compare hybrid and similarly equipped conventional vehicles, Consumer Reports tested a variety of classes of hybrid and all-gas model cars and aport utility vehicles (SUV’s). You are given the required information: Make/Model Class Type MPG Honda Civic Small Car Hybrid 37 Honda Civic Small Car Conventional 28 Toyota Prius Small Car Hybrid 44 Toyota Corolla Small Car Conventional 32 Chevrolet Malibu Midsize Car Hybrid 27 Chevrolet Malibu Midsize Car Conventional 23 Nissan Altima Midsize Car Hybrid 32 Nissan Altima Midsize Car Conventional 25 Ford Escape Small SUV Hybrid 27 Ford Escape Small SUV Conventional 21 Saturn Vue Small SUV Hybrid 28 Saturn Vue Small SUV Conventional 22 Lexus RX Midsize SUV Hybrid 23 Lexus RX Midsize SUV Conventional 19 Toyota Highlander Midsize SUV Hybrid 24 Toyota Highlander Midsize SUV Conventional 18 Using minitab, test for any significant effect due to Class, Type and Interaction using…arrow_forwardA development corporation purchased land that will be the site of a new luxury condominium complex. Management is considering a six month market research study designed to learn more about potential market acceptance of the condominium project. Management anticipates that, if conducted, the market research study will provide one of the following two results. 1. Favorable report (F): A significant number of the individuals contacted express interest in purchasing a condominium. 2. Unfavorable report (U): Very few of the individuals contacted express interest in purchasing a condo- minium. After deciding whether to conduct the market research study, they have the following two decision alternatives. d1 = a small complex with 30 condominiumsd2 = a medium complex with 60 condominiumsFollowing this, a chance event concerning the demand for the condominiums has two states of nature. s1 = strong demand for the condominiumss2 = weak demand for the condominiumsThe payoffs, probabilities, and…arrow_forwardA development corporation purchased land that will be the site of a new luxury condominium complex. Management is considering a six month market research study designed to learn more about potential market acceptance of the condominium project. Management anticipates that, if conducted, the market research study will provide one of the following two results. 1. Favorable report (F): A significant number of the individuals contacted express interest in purchasing a condominium. 2. Unfavorable report (U): Very few of the individuals contacted express interest in purchasing a condo- minium. After deciding whether to conduct the market research study, they have the following two decision alternatives. d1 = a small complex with 30 condominiumsd2 = a medium complex with 60 condominiumsFollowing this, a chance event concerning the demand for the condominiums has two states of nature. s1 = strong demand for the condominiumss2 = weak demand for the condominiumsThe payoffs, probabilities, and…arrow_forward
- A manager wants to see if geographical region (Cape Town, Durban and Gauteng) is related with ownership of a tablet (“Have a tablet” and “No tablet”). Define the null hypothesis and the alternative hypothesis. A. H1: Geographical region and ownership of a tablet are independent vs H0: No relationship exists between Geographical region and ownership of a tablet B. H0: Geographical region and ownership of a tablet are independent vs H1: A relationship exists between Geographical region and ownership of a tablet C. H1: Geographical region and ownership of a tablet are independent vs H0: Geographical region is dependent on ownership of a tablet D. H0: A relationship exists between Geographical region and ownership of a tablet vs H1: No relationship exists between Geographical region and ownership of a tabletarrow_forward6. In the book Business Research Methods (5th ed.), Donald R. Cooper and C. William Emory discuss studying the relationship between on-the-job accidents and smoking. Cooper and Emory describe the study as follows: Suppose a manager implementing a smoke-free workplace policy is interested in whether smoking affects worker accidents. Since the company has complete reports of on-the-job accidents, she draws a sample of names of workers who were involved in accidents during the last year. A similar sample from among workers who had no reported accidents in the last year is drawn. She interviews members of both groups to determine if they are smokers or not. The sample results are given in the following table.arrow_forwardAs you read about each study, (a) classify the type of research that it reflects, and (b) identify the kinds of conclusions that might reasonably be drawn from the results. The director of computer technology in Emerson School District wants to gather information about the use of technology-based instruction in language arts and literature classes in the district's middle schools and high schools. For her study, the director identifies five of the top teachers in these content areas. She visits and observes each teacher's classes on three different days and subsequently interviews each teacher. Then she summarizes the ways that these teachers incorporate the use of technology into their lessons and their students' activities. The director also summarizes teachers' beliefs about the roles of technology in students' learning and motivation. (a) Classify the research as one of the following: Quantitative/descriptive Quantitative/correlational…arrow_forward
- MATLAB: An Introduction with ApplicationsStatisticsISBN:9781119256830Author:Amos GilatPublisher:John Wiley & Sons IncProbability and Statistics for Engineering and th...StatisticsISBN:9781305251809Author:Jay L. DevorePublisher:Cengage LearningStatistics for The Behavioral Sciences (MindTap C...StatisticsISBN:9781305504912Author:Frederick J Gravetter, Larry B. WallnauPublisher:Cengage Learning
- Elementary Statistics: Picturing the World (7th E...StatisticsISBN:9780134683416Author:Ron Larson, Betsy FarberPublisher:PEARSONThe Basic Practice of StatisticsStatisticsISBN:9781319042578Author:David S. Moore, William I. Notz, Michael A. FlignerPublisher:W. H. FreemanIntroduction to the Practice of StatisticsStatisticsISBN:9781319013387Author:David S. Moore, George P. McCabe, Bruce A. CraigPublisher:W. H. Freeman