Entrepreneurs Weigh the Differences Between the Benefits of Starting a Business

question 137

Multiple Choice

Entrepreneurs weigh the differences between the benefits of starting a business and those things that they are likely to forego because they choose to work for themselves. Such things they are likely to pass-up on are:

• A)the freedom to make their own decisions.
• B) local government benefits such as enterprise zone tax credits.
• C)employer paid benefits such as paid vacation and health insurance.
• D)tickets to sporting events that trading partners may provide.

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Definitions:

Sampling Distribution

The sampling distribution is a probability distribution of a statistic obtained by selecting all possible samples of a specific size from a population.

Sampling Distribution

A probability distribution of a statistic obtained from a large number of samples drawn from a specific population.

Mean

The average of a set of numbers, calculated by dividing the sum of all the values by the number of values.

Central Limit Theorem

Theorem stating that sample means are approximately normally distributed for an infinite number of random samples drawn from a population.