Judy Is a Graduate from a Denturist Program

question 199

Short Answer

Judy is a graduate from a denturist program. Normally, graduates start up their own business, much like dentists and doctors. She has the choice of starting on her own or buying an existing practice. What is an advantage for her of starting a new business from scratch?
No problems as a result of the prior owner's errors
Odds are better to succeed
Relationship with suppliers already established
Needs and desires of customers known
The risks are lower than if she were to buy an existing practice

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Definitions:

Null Hypothesis

A default hypothesis that assumes no significant difference or effect between groups or variables in a statistical test.

Hypothesis Testing

A method in statistics to decide whether to accept or reject a hypothesis based on sample data, to determine the likelihood that a parameter related to the population is true.

Research Hypothesis

A specific, testable prediction about the expected outcome of a study.

Probability

A measure of the likelihood that an event will occur, expressed as a number between 0 and 1.