Describe Family Enterprising and Apply the Concept to Your Business

question 4

Essay

Describe family enterprising and apply the concept to your business concept.

---

Definitions:

Hypotheses

Formally proposed explanations for a phenomenon, which are typically tested through research and experiments to be supported or refuted.

Z Statistic

The Z statistic, or Z-score, is used in hypothesis testing, measuring the number of standard deviations a datapoint is from the population mean.

P-value

A measure in statistical hypothesis testing representing the probability of obtaining a result at least as extreme as the one observed, under the assumption that the null hypothesis is true.

Confidence Interval

A set of numbers obtained from statistical data from a sample, which is expected to encompass the value of a parameter from the overall population that is not known.