Instruction 13 -Referring to Instruction 13

question 245

Short Answer

Instruction 13.33
An econometrician is interested in evaluating the relation of demand for building materials to mortgage rates in Sydney and Melbourne. He believes that the appropriate model is
$\begin{array}{l}Y = 10 + 5 X _ { 1 } + 8 X _ { 2 }\\\\\text { where } \begin{aligned}X _ { 1 } & = \text { mortgage rate in } \% \\X _ { 2 } & = 1 \text { if Sydney, } 0 \text { if Melbourne } \\Y & = \text { demand in } \$ 100 \text { per capita }\end{aligned}\end{array}$
-Referring to Instruction 13.33,the effect of living in Sydney rather than Melbourne is to increase the mean demand by an estimated ___________ per capita.

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Definitions:

Denies

The action of stating that something is not true or rejecting a claim or request.

Objection Handling

The process of addressing and overcoming objections or concerns raised by a potential customer during a sales process.

Prospect's Response

The reaction or feedback given by a potential customer after being approached with a product or service offer.

Boomerang Approach

A sales technique in which the seller turns objections into reasons why the customer should actually buy the product.