Examlex
Which of the following is a source for business ideas that results in avoiding many errors and establishing competitive advantages early on?
Overbooking
A strategy used by airlines and hotels where more tickets or rooms are sold than available, based on predicted no-shows.
Chance
A measure of the likelihood or probability of certain events happening, often used in the context of statistical analysis and risk assessment.
Tornado Chart
A graphical method used to display the sensitivity of a result to changes in variables or inputs, resembling a tornado when variables are ranked by importance.
Market Size
The total volume of sales of a specific product or service or the total number of potential customers within a given market.
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