Which of the Following Is an Advantage of Starting a Business

question 30

Multiple Choice

Which of the following is an advantage of starting a business from scratch?

• A)One does not have to deal with the prior owner's bad decisions and mistakes.
• B)The concept, organizational structure, and operating practices are already in place.
• C)Relationships with customers, suppliers, and other stakeholders are established.
• D)Getting financing and credit is less challenging as investors are previously known.

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Definitions:

Alpha (α)

In hypothesis testing, the threshold probability for incorrectly rejecting the null hypothesis, representing the level of significance of the test.

Beta (β)

In statistics, it often represents the probability of committing a Type II error, or in regression, it denotes the slope coefficients representing the change in the dependent variable for a one-unit change in the independent variable.

Hypothesis

A hypothesis is a proposed explanation or assumption for a phenomenon or a relationship between variables that can be tested through research and experimentation.

Null Hypothesis

The null hypothesis is a statement in statistics that suggests no significant effect or relationship exists in the population; it is the hypothesis that a statistical test aims to disprove.