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Lee Peterson Has Invented a New Product That Detects Water

question 39

Essay

Lee Peterson has invented a new product that detects water leaks due to broken pipes and sends out an alarm similar to a smoke alarm.However,Lee has very little personal money to invest in this new product.He finally raised enough money to enter the market and began to experience some success.The product was not patentable because it was too similar to other existing technologies.Major corporations saw his success and have now entered the market with competing products.What will be the probable destiny of Lee Peterson's company?


Definitions:

Social Desirability Bias

The tendency of respondents to answer questions in a manner that will be viewed favorably by others, leading to distortion in self-report measures.

Acquiescence

The act of agreeing or submitting to something passively, without protest.

Anecdotal Evidence

Evidence based on personal accounts, observations, or stories, rather than on systematic scientific research or statistics.

Case Studies

A research method involving the detailed examination of an individual or group, providing in-depth data and insights into complex issues.

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