Instruction 7.2 The Mean Selling Price of New Homes in a Country

question 54

Multiple Choice

Instruction 7.2
The mean selling price of new homes in a country town over a year was $115,000. The population standard deviation was $25,000. A random sample of 100 new home sales from this town was taken.
-Referring to Instruction 7.2,without doing the calculations,state in which of the following ranges the sample mean selling price is most likely to lie?

• A) $116,000 - $118,000
• B) $113,000 - $115,000
• C) $115,000 - $117,000
• D) $114,000 - $116,000

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Definitions:

Sales Goals

The target figures set by a business or a sales team to guide performance and measure success.

Assumptive Close

The assumptive close is a sales technique where the salesperson assumes that the customer has already decided to purchase and moves directly to the closing of the sale.

Sales Decision Maker

The person or group of people who have the authority to decide on purchasing agreements or committing resources to acquire goods or services in a business context.

Self-Concept

An individual's perception of their own identity, including thoughts, feelings, and beliefs about themselves.