According to the Text, "Economics Tempers the Enthusiasm of a Manager

question 28

Multiple Choice

According to the text, "economics tempers the enthusiasm of a manager to focus on the customer" because

• A)customers hardly know what they want.
• B)focusing solely on the customer may ignore other important elements of business success.
• C)it shows the manager that the greatest benefit to the firm is to sell more.
• D)it enables the manager to see that any kind of customer focus is not worth the costs.
• E)it ensures that managers will find equilibrium.

---

Definitions:

Standard Error

A measure of the variability or dispersion of a sampling distribution, often used as an estimate of the accuracy of a sample mean.

Plus Four Method

A statistical method that adds four to the sample size and regards two successes and two failures in a binomial proportion confidence interval.

P-value

The probability of obtaining a test statistic at least as extreme as the one observed, assuming the null hypothesis is true; used to determine statistical significance.

Hypothesis

A supposition or proposed explanation made on the basis of limited evidence as a starting point for further investigation.