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What is meant by the term "bootstrapping"? Provide several examples of the ways that entrepreneurs bootstrap to raise money or cut costs?
Annual Premiums
Regular payments made on a yearly basis for insurance coverage.
Expected NPV
The anticipated net present value of a project, investment, or financial strategy, calculated by integrating all possible outcomes weighted by their probabilities.
Full-Ride Scholarship
A scholarship that covers all expenses of a student's education, including tuition, room, board, and sometimes additional costs like books and fees.
Probability
The measure of the likelihood that an event will occur, expressed as a number between 0 and 1.
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