The Second-Stage in the Heckman Selection Correction Is Including the _____

question 29

Multiple Choice

The second-stage in the Heckman selection correction is including the _____ in the second-stage regression to control for the potential sample-selection bias.

• A)estimated residuals
• B)calculated inverse Mills ratios
• C)predicted value of the dependent variable
• D)predicted value of the self-selection variable

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Definitions:

Trial Close

A sales technique where a salesperson tests the readiness of a prospect to make a purchase decision, often through indirect questions or suggestions.

Summary Close

A sales technique where the seller summarizes the main points of the presentation before asking for the sale.

Alternative Close

A sales technique in which the seller presents multiple options to the prospect, making it easier for them to make a decision without feeling pressured.

Assumptive Close

A sales technique where the seller assumes that the customer has already decided to buy and wraps up the sale.