Question 1

The first step of the scientific process of experimentation,for an entrepreneur,is which of the following?

Accepted Answer

A) Conduct a thorough Internet search. 
B) Develop a hypothesis. 
C) Ask a lot of questions. 
D) Analyze the data. 
A) Conduct a thorough Internet search. 
B) Develop a hypothesis. 
C) Ask a lot of questions. 
D) Analyze the data.

Question 2

What question is asked when an entrepreneur draws conclusions from the results of data analysis?

Accepted Answer

A) What can be put into charts and graphs? 
B) Can the results be communicated? 
C) Do the results support the hypothesis? 
D) How can the observations be summarized? 
A) What can be put into charts and graphs? 
B) Can the results be communicated? 
C) Do the results support the hypothesis? 
D) How can the observations be summarized?

Question 3

An entrepreneur has a website where customers think they are interfacing with his actual product but it is actually the entrepreneur behind the scenes who is manually providing the service.This is called the ______ test.

Accepted Answer

A) landing page 
B) wizard of Oz 
C) button to nowhere 
D) storyboard 
A) landing page 
B) wizard of Oz 
C) button to nowhere 
D) storyboard

Question 4

Imagine that you are in a Starbucks restaurant and testing the hypothesis that most people are in the store for less than 10 minutes.How would you test this hypothesis?

Accepted Answer

Sit at a Starbucks store and note how lo

Question 5

Yan has created a three-dimensional model of her new food delivery container.It looks like the finished product,but the handles don't quite function properly yet.What type of prototype has Yan produced?

Accepted Answer

A) mock-up 
B) minimum viable product 
C) rapid 
D) high-fidelity 
A) mock-up 
B) minimum viable product 
C) rapid 
D) high-fidelity

Question 6

While large companies may rely on direct mail,surveys,advertising,and catalogs to gather data about their customers,these are not always reliable methods for entrepreneurs.

Accepted Answer

A) True 
 B)False

Question 7

A pilot experiment is a large-scale study to assess the feasibility of a product or service.

Accepted Answer

A) True 
 B)False

Question 8

Entrepreneurs have more freedom to experiment than larger organizations,as they have less to lose.

Accepted Answer

A) True 
 B)False

Question 9

Anthony is thinking of starting a small hot dog cart that he will take to the beach area in San Diego,California.Before starting,he investigates city ordinances and talks to vendors in the beach area.He also talks to people at the local parks who sell hot dogs to find out what makes their business successful.Anthony is conducting what stage of the scientific process?

Accepted Answer

A) testing the hypothesis 
B) experimentation 
C) data analysis 
D) background research 
A) testing the hypothesis 
B) experimentation 
C) data analysis 
D) background research

Question 10

The most successful entrepreneurs are the ones who make sure they are the smartest person in any room,and education is key to doing so.

Accepted Answer

A) True 
 B)False

Question 11

If an experiment outcome indicates that the original hypothesis was incorrect,what should the entrepreneur do?

Accepted Answer

A) Conduct another experiment. 
B) Adapt the original assumption. 
C) Move forward until there is another assumption to test. 
D) Terminate the product or business concept. 
A) Conduct another experiment. 
B) Adapt the original assumption. 
C) Move forward until there is another assumption to test. 
D) Terminate the product or business concept.

Question 12

If the experiment fails to deliver the results the entrepreneur anticipated,the experiment is a failure.

Accepted Answer

A) True 
 B)False

Question 13

List the three main questions that are crucial to the problem-solution-benefit framework of storyboarding.Then,choose a well-known business and describe how that business' founder might have created its storyboard.

Accepted Answer

The three questions are: What is the pro

Question 14

Which of the following is the main problem regarding intuition in the role of decision making?

Accepted Answer

A) People tend to lack sufficient experience. 
B) It does not provide the knowledge or evidence to support the feasibility of the idea. 
C) Few people have strong intuitions. 
D) Intuition is not real and cannot be trusted. 
A) People tend to lack sufficient experience. 
B) It does not provide the knowledge or evidence to support the feasibility of the idea. 
C) Few people have strong intuitions. 
D) Intuition is not real and cannot be trusted.

Question 15

Observations are not acceptable data in an experiment.

Accepted Answer

A) True 
 B)False

Question 16

A prototype is often created before a pilot test is conducted.

Accepted Answer

A) True 
 B)False

Question 17

During ______,your customer interfaces with your product but the "technology" is being conducted by a live person behind the scenes.

Accepted Answer

A) prototyping 
B) preselling 
C) task completion 
D) concierge testing 
A) prototyping 
B) preselling 
C) task completion 
D) concierge testing

Question 18

Todd Kashdan,professor at George Mason University,created a five-dimensional model of what aspect of entrepreneurship?

Accepted Answer

A) self-promotion 
B) confidence 
C) curiosity 
D) stress 
A) self-promotion 
B) confidence 
C) curiosity 
D) stress

Question 19

How have large businesses traditionally gauged customer tastes and preferences?

Accepted Answer

A) by analyzing large amounts of historical data 
B) by conducting short market experiments 
C) by prototyping new concepts 
D) by asking employees 
A) by analyzing large amounts of historical data 
B) by conducting short market experiments 
C) by prototyping new concepts 
D) by asking employees

Question 20

The idea of storyboarding grew out of what industry?

Accepted Answer

A) steel production 
B) animation 
C) silent filmmaking 
D) automobile manufacturing 
A) steel production 
B) animation 
C) silent filmmaking 
D) automobile manufacturing

The first step of the scientific process of experimentation,for an entrepreneur,is which of the following?

What question is asked when an entrepreneur draws conclusions from the results of data analysis?

An entrepreneur has a website where customers think they are interfacing with his actual product but it is actually the entrepreneur behind the scenes who is manually providing the service.This is called the ______ test.

Imagine that you are in a Starbucks restaurant and testing the hypothesis that most people are in the store for less than 10 minutes.How would you test this hypothesis?

Yan has created a three-dimensional model of her new food delivery container.It looks like the finished product,but the handles don't quite function properly yet.What type of prototype has Yan produced?

While large companies may rely on direct mail,surveys,advertising,and catalogs to gather data about their customers,these are not always reliable methods for entrepreneurs.

A pilot experiment is a large-scale study to assess the feasibility of a product or service.

Entrepreneurs have more freedom to experiment than larger organizations,as they have less to lose.

The most successful entrepreneurs are the ones who make sure they are the smartest person in any room,and education is key to doing so.

If an experiment outcome indicates that the original hypothesis was incorrect,what should the entrepreneur do?

If the experiment fails to deliver the results the entrepreneur anticipated,the experiment is a failure.

List the three main questions that are crucial to the problem-solution-benefit framework of storyboarding.Then,choose a well-known business and describe how that business' founder might have created its storyboard.

Which of the following is the main problem regarding intuition in the role of decision making?

Observations are not acceptable data in an experiment.

A prototype is often created before a pilot test is conducted.

During ______,your customer interfaces with your product but the "technology" is being conducted by a live person behind the scenes.

Todd Kashdan,professor at George Mason University,created a five-dimensional model of what aspect of entrepreneurship?

How have large businesses traditionally gauged customer tastes and preferences?

The idea of storyboarding grew out of what industry?

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Building Business Models

Developing Your Customers

Developing Networks and Building Teams

Creating Revenue Models

Planning for Entrepreneurs

Anticipating Failure

Bootstrapping and Crowdfunding for Resources

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Financial Statements and Projections for Startups

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Exam 7: Testing and Experimenting With New Ideas

The first step of the scientific process of experimentation,for an entrepreneur,is which of the following?

What question is asked when an entrepreneur draws conclusions from the results of data analysis?

An entrepreneur has a website where customers think they are interfacing with his actual product but it is actually the entrepreneur behind the scenes who is manually providing the service.This is called the ______ test.

Imagine that you are in a Starbucks restaurant and testing the hypothesis that most people are in the store for less than 10 minutes.How would you test this hypothesis?

Yan has created a three-dimensional model of her new food delivery container.It looks like the finished product,but the handles don't quite function properly yet.What type of prototype has Yan produced?

While large companies may rely on direct mail,surveys,advertising,and catalogs to gather data about their customers,these are not always reliable methods for entrepreneurs.

A pilot experiment is a large-scale study to assess the feasibility of a product or service.

Entrepreneurs have more freedom to experiment than larger organizations,as they have less to lose.

The most successful entrepreneurs are the ones who make sure they are the smartest person in any room,and education is key to doing so.

If an experiment outcome indicates that the original hypothesis was incorrect,what should the entrepreneur do?

If the experiment fails to deliver the results the entrepreneur anticipated,the experiment is a failure.

List the three main questions that are crucial to the problem-solution-benefit framework of storyboarding.Then,choose a well-known business and describe how that business' founder might have created its storyboard.

Which of the following is the main problem regarding intuition in the role of decision making?

Observations are not acceptable data in an experiment.

A prototype is often created before a pilot test is conducted.

During ______,your customer interfaces with your product but the "technology" is being conducted by a live person behind the scenes.

Todd Kashdan,professor at George Mason University,created a five-dimensional model of what aspect of entrepreneurship?

How have large businesses traditionally gauged customer tastes and preferences?

The idea of storyboarding grew out of what industry?

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Building Business Models

Developing Your Customers

Developing Networks and Building Teams

Creating Revenue Models

Planning for Entrepreneurs

Anticipating Failure

Bootstrapping and Crowdfunding for Resources

Financing for Startups

Navigating Legal and Ip Issues

Engaging Customers Through Marketing

Supporting Social Entrepreneurship

Financial Statements and Projections for Startups

The Pitch Deck

Filters