Question 1

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 A

Question 2

A written description of a product is a better way to generate discussion from potential customers than a storyboard.

Accepted Answer

A) True 
 B)False  False

Question 3

What are the elements in the basic framework for storyboarding?

Accepted Answer

A) problem,solution,benefit 
B) solution,approval,action 
C) problem,product,organization 
D) need,mindset,product 
A) problem,solution,benefit 
B) solution,approval,action 
C) problem,product,organization 
D) need,mindset,product A

Question 4

What type of testing involves watching someone actually use your product so that you can see what works and what does not?

Accepted Answer

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

Question 5

What is a hypothesis?

Accepted Answer

A) the process of conducting a research study 
B) a method used to prove or disprove the validity of an idea 
C) an assumption tested through research and experimentation 
D) a widespread belief 
A) the process of conducting a research study 
B) a method used to prove or disprove the validity of an idea 
C) an assumption tested through research and experimentation 
D) a widespread belief

Question 6

Conducting feedback interviews in conjunction with experimentation helps entrepreneurs get more information pertaining to what basic question?

Accepted Answer

A) What age range is your ideal customer? 
B) Who is your ideal customer? 
C) How are people becoming aware of your product or service? 
D) Why are people interacting in different ways with your product or service? 
A) What age range is your ideal customer? 
B) Who is your ideal customer? 
C) How are people becoming aware of your product or service? 
D) Why are people interacting in different ways with your product or service?

Question 7

Why is experimentation required?

Accepted Answer

A) to meet the requirements of investors and loan officers 
B) to strengthen ideas 
C) to help with inspiration 
D) to form customer-satisfaction scales 
A) to meet the requirements of investors and loan officers 
B) to strengthen ideas 
C) to help with inspiration 
D) to form customer-satisfaction scales

Question 8

The best form of MVP is the one you don't actually have to build.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

Sean is thinking about creating an automatic cat feeder similar to one that he created for dogs.He believes that cats eat several times a day.He also believes that cats can be trained to come to the sound of a slight ding,indicating that a new tray of food has been opened.He has several friends set out small trays of food,sounding a ding to see if cats will associate the sound with curiosity about the food.Sean is in what stage of scientific experimentation?

Accepted Answer

A) testing the hypothesis 
B) forming a hypothesis 
C) analyzing data 
D) assessing results 
A) testing the hypothesis 
B) forming a hypothesis 
C) analyzing data 
D) assessing results

Question 11

Tim Brown of IDEO built what type of prototype of a complex insulin injection device?

Accepted Answer

A) Lego 
B) Wizard of Oz 
C) User-Driven 
D) Pilot 
A) Lego 
B) Wizard of Oz 
C) User-Driven 
D) Pilot

Question 12

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 asks an ice cream vendor if he can offer hot dogs using his stand for a small rental fee.He will only need to use space for one day.Anthony is conducting what stage of the scientific process?

Accepted Answer

A) testing the hypothesis by running an experiment 
B) implementation of the plan 
C) developing a hypothesis 
D) carrying out background research 
A) testing the hypothesis by running an experiment 
B) implementation of the plan 
C) developing a hypothesis 
D) carrying out background research

Question 13

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

Question 14

What is an easy form of prototyping that provides a high-level view of thoughts and ideas arranged in the form of drawings,sketches,or illustrations?

Accepted Answer

A) pitching 
B) mocking up 
C) storyboarding 
D) modeling 
A) pitching 
B) mocking up 
C) storyboarding 
D) modeling

Question 15

Experiments do not need to be completed in order to produce results.

Accepted Answer

A) True 
 B)False

Question 16

For a prototype to be effective,it must communicate what our ideas would look like,behave like,and work like.

Accepted Answer

A) True 
 B)False

Question 17

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 18

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

Accepted Answer

A) True 
 B)False

Question 19

Rather than just gathering data,an experiment matches an outcome to which of the following?

Accepted Answer

A) the original hypothesis 
B) the data collection method 
C) the business problem 
D) the business opportunity 
A) the original hypothesis 
B) the data collection method 
C) the business problem 
D) the business opportunity

Question 20

How should an entrepreneur approach experimentation?

Accepted Answer

A) Invest high levels of time and resources and strictly adhere to the scientific method. 
B) Use quick,low-cost methods of experimentation informed by scientific thinking. 
C) Focus on asking lots of questions and ignore the scientific method. 
D) Rely upon historical data rather than collecting experimental data. 
A) Invest high levels of time and resources and strictly adhere to the scientific method. 
B) Use quick,low-cost methods of experimentation informed by scientific thinking. 
C) Focus on asking lots of questions and ignore the scientific method. 
D) Rely upon historical data rather than collecting experimental data.

How have large businesses traditionally gauged customer tastes and preferences?

A written description of a product is a better way to generate discussion from potential customers than a storyboard.

What are the elements in the basic framework for storyboarding?

What type of testing involves watching someone actually use your product so that you can see what works and what does not?

What is a hypothesis?

Conducting feedback interviews in conjunction with experimentation helps entrepreneurs get more information pertaining to what basic question?

Why is experimentation required?

The best form of MVP is the one you don't actually have to build.

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

Tim Brown of IDEO built what type of prototype of a complex insulin injection device?

The idea of storyboarding grew out of what industry?

What is an easy form of prototyping that provides a high-level view of thoughts and ideas arranged in the form of drawings,sketches,or illustrations?

Experiments do not need to be completed in order to produce results.

For a prototype to be effective,it must communicate what our ideas would look like,behave like,and work like.

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?

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

Rather than just gathering data,an experiment matches an outcome to which of the following?

How should an entrepreneur approach experimentation?

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Building Business Models

Developing Your Customers

Supplement A: Financial Statements and Projections for Startups

Developing Networks and Building Teams

Supplement B: the Pitch Deck

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

Filters

Exam 7: Testing and Experimenting With New Ideas

How have large businesses traditionally gauged customer tastes and preferences?

A written description of a product is a better way to generate discussion from potential customers than a storyboard.

What are the elements in the basic framework for storyboarding?

What type of testing involves watching someone actually use your product so that you can see what works and what does not?

What is a hypothesis?

Conducting feedback interviews in conjunction with experimentation helps entrepreneurs get more information pertaining to what basic question?

Why is experimentation required?

The best form of MVP is the one you don't actually have to build.

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

Tim Brown of IDEO built what type of prototype of a complex insulin injection device?

The idea of storyboarding grew out of what industry?

What is an easy form of prototyping that provides a high-level view of thoughts and ideas arranged in the form of drawings,sketches,or illustrations?

Experiments do not need to be completed in order to produce results.

For a prototype to be effective,it must communicate what our ideas would look like,behave like,and work like.

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?

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

Rather than just gathering data,an experiment matches an outcome to which of the following?

How should an entrepreneur approach experimentation?

Practicing Entrepreneurship

Activating an Entrepreneurial Mindset

Creating and Recognizing New Opportunities

Using Design Thinking

Building Business Models

Developing Your Customers

Supplement A: Financial Statements and Projections for Startups

Developing Networks and Building Teams

Supplement B: the Pitch Deck

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

Filters