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A Resource Is Valuable and Rare but Neither Difficult to Imitate

question 69

Multiple Choice

A resource is valuable and rare but neither difficult to imitate nor without substitutes. This should enable the firm to attain


Definitions:

P-Value

The probability of observing data as extreme as, or more than, what was actually observed, assuming the null hypothesis is true.

Sample Proportion

The ratio of members in a sample that have a particular attribute to the total number of members in that sample.

Sample Size

The number of observations or datapoints collected in a sample, critical in determining the precision of estimates and power of statistical tests.

Type II Error

The statistical mistake of failing to reject a null hypothesis when it is actually false.

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