TABLE 7-2 The Mean Selling Price of New Homes in a Small

question 81

Multiple Choice

TABLE 7-2
The mean selling price of new homes in a small town over a year was $115,000.The population standard deviation was $25,000.A random sample of 100 new home sales from this city was taken.
-Referring to Table 7-2,without doing the calculations,state in which of the following ranges the sample mean selling price is most likely to lie.

• A)$113,000-$115,000
• B)$114,000-$116,000
• C)$115,000-$117,000
• D)$116,000-$118,000

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Definitions:

Need-Satisfaction

A marketing approach focused on identifying and fulfilling the specific needs and desires of customers.

Problem Identification

The process of recognizing and defining an issue or challenge to be solved.

Consultative Selling

A sales approach focusing on building relationships and understanding customer needs to offer tailored solutions.

Adaptive Selling

A sales technique that involves customizing the sales approach based on the unique needs, behaviors, and reactions of each customer.