THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 8

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The data below are for the number of unemployed persons (in millions)and the federal unemployment insurance payments (in billions of dollars)for the years 1978-1985.Some economists state that these two variables are positively related.


-Differentiate between a confidence interval and a prediction interval.

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Definitions:

Complex Purchase

Purchasing decisions that involve extensive research and consideration due to factors like high cost, long-term commitments, or personal importance.

Sales Promotion

A set of nonpersonal communication tools designed to stimulate quicker and more frequent purchases of a product.

Personal Selling

The two-way flow of communication between a salesperson and a customer that is paid for by the firm and seeks to influence the customer’s purchase decision.

Summary Close

A sales technique where the main points of the presentation are summarized to reinforce the value of the offer and encourage a decision.