An Investigation of the Effectiveness of a Training Program to Improve

question 51

Multiple Choice

An investigation of the effectiveness of a training program to improve customer relationships
Included a pre-training and post-training customer survey. To compare the differences, they
Computed (post-training survey score - pre-training survey score) . Seven customers were randomly
Selected and completed both surveys. The results follow:
Was the training effective in improving customer relationships when tested at a 0.05 level of
Significance?

• A) Reject the null hypothesis and conclude that the training was effective.
• B) Reject the null hypothesis and conclude that the training was ineffective.
• C) Fail to reject the null hypothesis and conclude that mean survey scores are the same.
• D) Fail to reject the null hypothesis and conclude that the mean survey scores are not equal.

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Definitions:

Sherman Act

A landmark U.S. antitrust law passed in 1890 that prohibits monopolistic business practices and encourages competition.

Monopoly

A market condition where a single company or entity exclusively controls a particular commodity or service, often leading to less competition and higher prices.

Public Regulation

The imposition of rules by the government aimed at influencing or controlling certain activities within the economy or society for the general welfare.

Natural Monopolists

Natural monopolists are entities that can provide a good or service at a lower cost than any potential competitor due to economies of scale, making a single provider more efficient than multiple competing ones.