. Market pioneers, companies that are among the first to develop a new product or service, tend to have higher market shares than latecomers to the market. What accounts for this advantage? Here is an excerpt from the conclusions of a study of a sample of 1209 manufacturers of industrial goods: Can patent protection explain pioneer share advantages? Only 21% of the pioneers claim a significant benefit from either a product patent or a trade secret. Though their average share is two points higher than that of pioneers without this benefit, the increase is not statistically significant (z = 1.13). Thus, at least in mature industrial
markets, product patents and trade secrets have little connection to pioneer share advantages.11 Find the P-value for the given z. Then explain to someone who knows no statistics what â€œnot statistically significantâ€ in the studyâ€™s conclusion means. Why does the author conclude that patents and trade secrets donâ€™t help, even though they contributed 2 percentage points to average market share?