Your CEO Has Followed Your Advice and Now Wants You

question 14

Multiple Choice

Your CEO has followed your advice and now wants you to measure effect sizes. You report a Pearson's r of 0.50 for the impact of Power Nylon shorts on athletic performance times. Your CEO wants to know if this is bad, as she remembers that a p-value of 0.30 is not good. What do you tell her?

• A) You tell her that effect size and p-values are the same and that a Pearson's r of 0.50 means there is no statistically significant effect. Power Nylon shorts should cease production.
• B) You tell her that effect size and p-values are not the same and that a Pearson's r of 0.50 is a large effect, suggesting she should roll-out the launch of Power Nylon shorts.
• C) You tell her that effect size and p-values are not the same and that a Pearson's r of 0.50 is a small effect, suggesting she should stop the launch of Power Nylon shorts until more data analysis is done.
• D) You tell her that effect size and p-values are not the same and that a Pearson's r of 0.50 is a medium effect, suggesting she should roll-out the launch of Power Nylon shorts.

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Definitions:

Competitive Business Environments

Scenarios where businesses compete for the same customers or market share, characterized by rivalry and the need for strategic planning.

Entrepreneurship

Engaging in the process of founding businesses, assuming financial jeopardy with the anticipation of earning profits.

Entrepreneurship

Undertaking the initiative to create one or more businesses, accepting the monetary risks for the potential of making profit.

Entrepreneurs

Entrepreneurs are individuals who identify business opportunities, acquire and organize the necessary resources to capitalize on them, and bear the associated risks and rewards.