Four Entrepreneurial Students Want to Open a Shaved Ice Business

question 37

Multiple Choice

Four entrepreneurial students want to open a shaved ice business during the coming summer.Maxine thinks that demand will be high and therefore they should purchase a large stand and acquire a premium ice shaving machine.Minnie feels strongly that demand will be low and that they should purchase a tarp and some basic hand tools to work the ice.Midelia is pretty sure that demand will fall in-between these two extremes,so they can get by with a shack and a used ice shaving machine.Their financial wizard of the bunch,Probableah,has estimated the costs,revenues,and likelihoods of each level of demand and created the table shown below.What is the expected profit for this venture?

• A)$1700
• B)$2300
• C)$2900
• D)$3300

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Definitions:

Ideological Conflict

Disagreements or disputes arising from deeply held beliefs or values between individuals or groups.

Charismatic Leaders

Leaders who possess a compelling charm or appeal that inspires devotion and enthusiasm in others, driving forward change and innovation.

Pragmatic Leaders

Leaders who are practical, focusing on solutions and results that work under the current conditions, often adapting flexibly to changing environments.

Transactional Leadership

A leadership style focused on the exchange process between leaders and followers, where followers are rewarded for their compliance and performance.