Train Collectors Jack McCoy and Sandro Dias Have Decided to Open

question 208

Multiple Choice

Train collectors Jack McCoy and Sandro Dias have decided to open a store that sells train memorabilia--everything from toy train sets to full-sized railroad signs.After 18 months in business,they have noticed most of their sales are to the same small group of customers (about 40 people) even though they have records to show there are over 200 active train collectors within a 50-mile radius of their store.Their retailing experience is supportive of the:

• A) optimizer principle
• B) min-max rule
• C) majority fallacy
• D) rule of demand
• E) 80/20 principle

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Definitions:

Encoding Failure

Failure to process information into memory.

Acoustic Storage

The component of the memory system specific for retaining auditory information, often associated with the concept of the phonological loop.

Middle

Generally refers to an intermediate position or stage between two extremes, such as the middle of a process, area, or period.

Beginning

The point in time or space at which something starts.