An Entrepreneur Is Investigating Starting a Company That Provides Tax

question 4

Multiple Choice

An entrepreneur is investigating starting a company that provides tax advice to small companies.In order to position his company differently from the existing competitors, the entrepreneur must:

• A) analyze the reach, richness, and affiliation the company must have with its customers.
• B) provide tax advice either in a different manner or provide a different kind of tax service than competitors.
• C) offer tax advice at a price lower than the cheapest competitor.
• D) offer tax advice at a higher quality than the best competitor.

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Definitions:

80th Percentile

A value below which 80 percent of the data in a data set falls, indicating the upper 20% of values.

Mean

The average of a set of numbers, calculated by summing all numbers in the set and then dividing by the count of numbers.

Standard Normal

A special case of the normal distribution with a mean of zero and a standard deviation of one.

Random Variable

A random variable is a variable whose values depend on outcomes of a random phenomenon, used in probability and statistics to model real-world processes.