Starting Points (Or Initial Offers)

question 33

Multiple Choice

Starting points (or initial offers)

• A) are not known to the other party.
• B) are usually contained in the opening statements each negotiator makes.
• C) are given up as concessions are made.
• D) are usually learned or inferred as negotiations get under way.

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Definitions:

Standard Error

A statistic that measures the dispersion of sample means around the population mean.

Sample Mean

The arithmetic average of a sample set of data, used to estimate the population mean.

Normally Distributed

Describes a data set that follows a bell-shaped curve where most observations cluster around the mean and probabilities for values taper off symmetrically towards both extremes.

Standard Deviation

Standard deviation is a measure of the amount of variation or dispersion of a set of values, indicating how much the values in the set differ from the mean.