ENTR 302 Chapter 8 - Quiz 2

Which is the first step in the scientific process of experimentation for an entrepreneur?

• Conduct a thorough Internet search.

• Develop a hypothesis.

• Ask a lot of questions.

• Analyze the data.

How should an entrepreneur approach experimentation?

• Invest high levels of time and resources and strictly adhere to the scientific method.

• Use quick, low-cost methods of experimentation informed by scientific thinking.

• Focus on asking lots of questions and ignore the scientific method.

• Rely upon historical data rather than collecting experimental data.

In experimentation, an entrepreneur’s goal should be to use which of the following?

• Continual iteration to test and shape ideas

• Perfect experiments for perfect outcomes

• Scientific rigor in testing products

• The scientific method sparingly so as to save resources

An entrepreneur is working on an experiment that allows customers to navigate through a test version of a new app. Which other action will be helpful for the entrepreneur to take to evaluate this iteration of the prototype and experiment?

• Develop a wireframe of the app.

• Conduct feedback interviews with customers.

• Run a pilot experiment with app developers.

• Create a storyboard to explain the app to customers.

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

• What age range is your ideal customer?

• Who is your ideal customer?

• How are people becoming aware of your product or service?

• Why are people interacting in different ways with your product or service?

An entrepreneur relies on intuition to make decisions most decisions during product development. Which is likely true about this entrepreneur?

• They are relying on unconscious bias.

• They will need to conduct fewer market experiments.

• They are at low risk of engaging in confirmation bias.

• They will need to spend less money on prototypes.