A Small Business Can Determine Whether a Market Is Adequate

question 44

True/False

A small business can determine whether a market is adequate for its plans by checking the sales forecast.

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Definitions:

Monthly Production

The total output or production of a manufacturing process or facility in a single month.

Probability Distribution

Describes how the values of a random variable are distributed, showing the probabilities of different outcomes occurring.

Variance

A measure of the spread or dispersion of a set of values, calculated as the average of the squared deviations from the mean.

Random Variable

A variable that reflects numerical outcomes attributed to random occurrences.