In Order to Grasp the Concept of the Business Model

question 6

Multiple Choice

In order to grasp the concept of the business model, the book lists various alternative definitions. Which three of the following are correct? A business model:

• A) describes how all the elements in the system fit together to form a functional whole
• B)describes how an organization creates, delivers and captures value
• C) is the overall configuration of ideas, resources, activities and logics in the organization
• D) is a model which states those businesses one should choose and those best avoided
• E) is a tool which uses business as a model for the future

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Definitions:

Wilcoxon Rank Sum Test

A non-parametric test for assessing whether two independent samples come from the same distribution.

Expected Cell Counts

In chi-squared tests, these refer to the theoretically predicted frequencies of observations in the categories of a contingency table under the null hypothesis.

Degrees of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution or in the calculation after estimating certain parameters.

Contingency Table

A table used to display the frequency distribution of variables and analyze the relationship between categorical variables.