Arthur R Kydd Has Helped Launch More Than 60 Start-Up Firms

question 31

Multiple Choice

Arthur R. Kydd has helped launch more than 60 start-up firms and believes if you have a real product with a distinctive point of difference that satisfies the needs of customers, you may have a winner. The way to demonstrate this to him is to

• A) create a prototype and test it in the real world.
• B) submit a quality résumé that demonstrates the likelihood of future success.
• C) develop a well-written marketing or business plan.
• D) make a list of all the other ideas you have, including this one.
• E) ask for an informal interview.

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Definitions:

Random Experiment

An experiment or process that leads to uncertain outcomes, each with definable probabilities.

Binomial Distribution

A probability distribution that summarizes the likelihood that a value will take one of two independent states across a series of experiments or trials.

Expected Value

The sum of all possible values each multiplied by the probability of its occurrence, often used in probability theory to predict the average outcome of a random event over the long term.

Binomial Probability Distribution

A probability distribution that summarizes the likelihood that a value will take one of two independent states under a given number of observations or trials.