Morgan has calculated the upper and lower limit for control limits in an chart, and determines the out-of-control behavior she observed might be due to the fact that she was using an extremely small sample. Therefore, she quadruples her sample size, and
the sample is now much larger than even her original sample. Unfortunately, she forgets to adjust the upper and lower limits again to reflect the much larger sample size. What is likely to occur as she manually plots observations on the chart?
The limits are wider with smaller samples, so she is less likely to observe observations that are truly out-of-control in the larger sample.
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Explain the principle of cognitive consistency
What will be an ideal response?
Which of the following statements is true about customer retention and customer life expectancy?
A) The higher the customer retention rate, the lower the short-term profit impact. B) As customer retention increases, the customer's life expectancy decreases. C) Customer life expectancy decreases exponentially with customer retention. D) In general, it costs five times more to replace than to keep a customer. E) Higher levels of customer retention have a long-term negative impact on profits.
What should be the formula in B5?
a) =B1/(B3-B4)/B3
b) =B1/B3-B4*B3
c) =(B1/B3)-B4*B3
d) =B1/(B3-B4)*B3
e) =B1/(B3+B4)*B3
Which type of sales presentation method is best when a salesperson has sold products to a prospect in the past?
A. Problem-solution B. Stimulus response C. Barrier D. Formula selling E. Memorized