Which of the Following Is an Important Benefit of Demonstrating

question 20

Multiple Choice

Which of the following is an important benefit of demonstrating proof of concept (POC) with a prototype?

• A) Requisite technologies to create the final product can be developed early when technology resources are not in demand.
• B) Changes in the prototype can be made early in the process when changes are less costly.
• C) The prototype is an asset that can be used as collateral when securing financing for a loan.
• D) It will indicate how much room there is for error between the cost to produce a product or deliver a service and the selling price.
• E) Creating a prototype establishes an implicit patent on your product.

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Definitions:

Central Tendency

A statistical measure that identifies a single value as representative of an entire distribution of data, typically the mean, median, or mode.

Data Aging

The process by which data becomes outdated or less relevant over time, often due to changes in context or the emergence of more current information.

Pay Equity

The concept that employees should receive equal pay for work of equal value regardless of gender, ethnicity, or other non-performance-related factors.

Market Comparator Firms

Companies used as benchmarks to evaluate competitive aspects such as salaries, benefits, and working conditions for benchmarking purposes.