What is cocooning? How does it affect the sales of various ...

[mynx]

What is cocooning? How does it affect the sales of various products and services?

Question 2

The most common type of selection bias correction model used by researchers is the
 a. hierarchical Bayes model c. Heckman model
  b. fixed normal mixture model d. bias estimation model

[cdmart10]

Answer to Question 1

Cocooning, the trend toward staying at home, is now a worldwide phenomenon. People are bringing their work and entertainment into their homes rather than going out for these things. Challenging economic times are behind this push to cut back on large purchases like traveling, eating out, and viewing movies at the cinema. Retailers in the Unites States report cocooning trend-related sales in the areas of food shopping, outdoor barbeque equipment, video games, and flat-panel televisions. Similarly, retailers in Australia report the buying or renting of DVDs, meal-preparation ingredients, and outdoor furniture and accessories topping the cocoon-buyer's list of properties.

Answer to Question 2

C
The Heckman model is the most frequently used selection bias correction model.