Identify a True Statement About the Process of Generating Business

question 73

Multiple Choice

Identify a true statement about the process of generating business ideas.

• A)Potential business owners must now become personally involved in their new ventures, and they should look at it as a purely financial endeavor.
• B)Individuals should quickly exploit opportunities they identify before competitors can identify the same gaps.
• C)Entrepreneurs should limit themselves to generating business ideas based on their education and work experience.
• D)After analysis, the opportunity identified might be very different from the business idea initially conceived.

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Definitions:

Z-score

A statistical measure that indicates the number of standard deviations a data point is from the mean.

Normal Random Variable

A random variable that has a distribution defined by a normal curve, characterized by its mean and variance.

Mean

A measure of central tendency calculated by dividing the sum of all values in a dataset by the number of values.

Standard Normal Random Variable

A normal distribution with a mean of 0 and standard deviation of 1, used as a reference to determine probabilities for normal distributions.