In the Learning-Curve Coefficients Table for 70 Percent Learning,the Sixth

question 28

Essay

In the Learning-Curve Coefficients table for 70 percent learning,the sixth unit has a unit time value of 0.398.Verify that table entry by use of the formula approach.Use five decimals in your work.

Recognize the impact of personal selling on customer relationships.

Understand the career paths and responsibilities in sales.

Know the motivations behind choosing a sales career.

Understand the importance and process of product presentation and closing sales.

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Definitions:

Rivalry

(1) The characteristic of a private good, the consumption of which by one party excludes other parties from obtaining the benefit; (2) the attempt by one firm to gain strategic advantage over another firm to enhance market share or profit.

Excludability

The characteristic of a private good, for which the seller can keep nonbuyers from obtaining the good.

Private Good

A good, or service that is individually consumed and that can be profitably provided by privately owned firms because they can exclude nonpayers from receiving the benefits.

Quantity Demanded

The quantity of a product or service that buyers are prepared and financially able to buy at a certain price.