An Outlier Is a Case or Set of Cases That

question 150

True/False

An outlier is a case or set of cases that shows an average score relative to the majority of cases in the data set.

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Definitions:

Small Business

An independently owned and operated company with limited size and revenue, according to industry standards, often characterized by a small workforce.

Independently Owned

Businesses or properties that are owned by individuals or private entities rather than corporations or chains.

Franchise

A business arrangement where one party (the franchisor) grants another party (the franchisee) the right to use its trademark or business model to offer, sell, or distribute goods or services.

Necessity-based Entrepreneurship

Entrepreneurial activities initiated as a result of limited job opportunities or economic necessity, rather than from the identification of a new business opportunity.