Most Entrepreneurs Take Action Only After Using Planning and Forecasting

question 83

True/False

Most entrepreneurs take action only after using planning and forecasting to reduce uncertainty.

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Definitions:

Degrees of Freedom

The number of independent pieces of information available to estimate another piece of information or the parameter in a model.

Number

An arithmetic value that represents a particular quantity and is used in counting and making calculations.

Degrees of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution or to a mechanism, minus the number of parameters that constrain these values.

Student t Distribution

A probability distribution that is used to estimate population parameters when the sample size is small and the population variance is unknown.