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Howard Genks works as a sales representative in a company that produces all kinds of hospital supplies.Recently,a prospective buyer walked into the store and spoke of how he was starting a non-profit organization to provide free treatment to children with cancer and required all furnishings for the ward to be designed specially for children.Howard quickly showed the client the range of beds and other hospital requirements the store had which were designed specifically for children to use.They also had rounded edges and colors that would appeal to children.Which of the following steps of the sales process is Howard executing in this scenario?
P-Value
In statistical hypothesis testing, the probability that the observed data could have occurred by random chance if the null hypothesis is true.
Excel Function
A prebuilt formula in Microsoft Excel that performs calculations, manipulates data, or performs other specific tasks.
P-Value
A statistical measure that helps scientists determine the significance of their research results, indicating the probability of observing the observed results, or more extreme, by chance if the null hypothesis is true.
Observed Significance Level
The probability of observing the given result, or one more extreme, by chance if the null hypothesis is true. It is often denoted as the p-value.
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