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Psychologist: We asked 100 entrepreneurs and 100 business managers to

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Psychologist: We asked 100 entrepreneurs and 100 business managers to  [#permalink]

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New post 06 Dec 2013, 10:27
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Psychologist: We asked 100 entrepreneurs and 100 business managers to answer various questions and rate how confident they were that their responses were correct. While members of each group were overconfident, in general the entrepreneurs were much more so than the business managers. This indicates that people who are especially overconfident are more likely to attempt to start a business in spite of the enormous odds against success than people who are less confident.

Which one of the following, if true, lends the most support to the psychologist’s conclusion?


(A) The questions asked of the entrepreneurs and business managers included personal, political, and business questions.

(B) At least some of the entrepreneurs surveyed had accurately determined before attempting to start their businesses what the odds were against their attempts being successful.

(C) Another survey showed that degree of confidence was highly correlated with success in business.

(D) The business managers who were most overconfident were found to have attempted to start businesses in the past.

(E) How confident each person surveyed was that his or her answers to the questions asked were correct corresponded closely to that person’s confidence in his or her business acumen.

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Re: Psychologist: We asked 100 entrepreneurs and 100 business managers to  [#permalink]

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New post Updated on: 06 Dec 2013, 11:20
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gmat6nplus1 wrote:
Psychologist: We asked 100 entrepreneurs and 100 business managers to answer various questions and rate how confident they were that their responses were correct. While members of each group were overconfident, in general the entrepreneurs were much more so than the business managers. This indicates that people who are especially overconfident are more likely to attempt to start a business in spite of the enormous odds against success than people who are less confident


1. Survey conducted on equal no of Entrepreneurs and Business managers to rate their confidence level.

2. Entrepreneurs > Business Managers


3. Overconfident People start Business


This indicates that people who are especially overconfident are more likely to attempt to start a business in spite of the enormous odds against success than people who are less confident <---------- We need to support / strengthen this statement.



Which one of the following, if true, lends the most support to the psychologist’s conclusion?

(A)The questions asked of the entrepreneurs and business managers included personal, political, and business questions.

Out of scope.

(B)At least some of the entrepreneurs surveyed had accurately determined before attempting to start their businesses what the odds were against their attempts being successful.

Irrelevant

(C)Another survey showed that degree of confidence was highly correlated with success in business.

Out of Scope

(D)The business managers who were most overconfident were found to have attempted to start businesses in the past.

Supports the Conclusion - Can be a probable contender

(E)How confident each person surveyed was that his or her answers to the questions asked were correct corresponded closely to that person’s confidence in his or her business acumen.

Wordy

Thus (D) seems to be better than the others ...
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Originally posted by Abhishek009 on 06 Dec 2013, 10:47.
Last edited by Abhishek009 on 06 Dec 2013, 11:20, edited 1 time in total.
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Re: Psychologist: We asked 100 entrepreneurs and 100 business managers to  [#permalink]

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New post Updated on: 06 Dec 2013, 12:28
Abhishek009 wrote:
Thus (C) seems to be better than the others ...


I chose D as well for POE; why should the success of managers' previous ventures help to demonstrate that confident people are more likely going to start a business? Perhaps working as a manager is considered to be a business itself? I was thinking about small businesses such as local shops and I was associating managers with big corporations -which they may not own.

what do you think?
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Originally posted by gmat6nplus1 on 06 Dec 2013, 11:13.
Last edited by gmat6nplus1 on 06 Dec 2013, 12:28, edited 1 time in total.
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Re: Psychologist: We asked 100 entrepreneurs and 100 business managers to  [#permalink]

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New post 06 Dec 2013, 11:27
gmat6nplus1 wrote:
Abhishek009 wrote:
Thus (C) seems to be better than the others ...


I chose D as well for POE; why should the success of managers in their previous ventures help to demonstrate that confident people are more likely going to start a business? Perhaps working as a manager is considered to be a business itself? I was thinking about small businesses such as local shops and I was associating managers with big corporations -which they may not own.

what do you think?


Extremely sorry it was a Typo , the answer according to my logic will be D


Given the statement we gotta strengthen the conclusion that " overconfident are more likely to attempt to start a business " ...


We have the information given here which states that Overconfident People are " ...more likely to attempt to start a business in spite of the enormous odds against success .... "

To support this statement we have to show something which supports it , past history about such behaviour to my logic supports the statement..
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Re: Psychologist: We asked 100 entrepreneurs and 100 business managers to  [#permalink]

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New post 06 Dec 2013, 12:06
Abhishek009 wrote:
Extremely sorry it was a Typo , the answer according to my logic will be D


Don't worry my friend, I wasn't pointing that out it was glaring from your reasoning that you were talking about answer choice D.
I will brainstorm on this one in the morning, fresh brain should help.

"may the odds be in your favor."
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Re: Psychologist: We asked 100 entrepreneurs and 100 business managers to  [#permalink]

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New post 02 Feb 2015, 13:23
gmat6nplus1 wrote:
Abhishek009 wrote:
Thus (C) seems to be better than the others ...


I chose D as well for POE; why should the success of managers' previous ventures help to demonstrate that confident people are more likely going to start a business? Perhaps working as a manager is considered to be a business itself? I was thinking about small businesses such as local shops and I was associating managers with big corporations -which they may not own.

what do you think?



The argument is postulating a correlation between confidence and entrepreneurship (starting a business). The study's findings establish that the entrepreneurs were more confident than the managers and concludes that it must be so that confident people attempt to start a business. Answer D strengthens this correlation by saying that the confident amongst the business managers were also people who attempted to start a business in the past (its not about the success of the business, it is about the attempt), lending support to the correlation posited in the argument.
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Re: Psychologist: We asked 100 entrepreneurs and 100 business managers to  [#permalink]

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New post 11 Sep 2015, 23:25
I chose D because It is mentioned that entrepreneur is more confident than the business manager and in order to own a business one should have overconfidence. A person is entrepreneur because he owns a business and he has overconfidence. so if a manager has attempted to start business he has entrepreneurial traits which means he should have overconfidence.
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Re: Psychologist: We asked 100 entrepreneurs and 100 business managers to  [#permalink]

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New post 21 Feb 2016, 10:52
The psychologist says that overconfident persons are more likely to be entrepreneurs (i.e. would have attempted to start a business).
D strongly supports this by showing that the most overconfident amongst the business managers had in fact been entrepreneurs earlier!

All other answers are irrelevant. E is somewhat close, but it talks about confidence in one's business acumen than general confidence (the latter is what the psychologist tries to correlate with the chances of starting a business)
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Re: Psychologist: We asked 100 entrepreneurs and 100 business managers to  [#permalink]

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New post 20 Jul 2016, 03:06
is it for sure that business managers were entrepreneurs earlier?
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Re: Psychologist: We asked 100 entrepreneurs and 100 business managers to  [#permalink]

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New post 20 Jul 2016, 13:53
vishnu440 wrote:
is it for sure that business managers were entrepreneurs earlier?


Could not understand your query. Could you elaborate?

Option D states that the most overconfident business managers attempted to start business, i.e. tried to be entrepreneurs; not all business managers tried to be entrepreneurs before, but the overconfident ones did........ Is this the clarification you are asking for ?
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Re: Psychologist: We asked 100 entrepreneurs and 100 business managers to  [#permalink]

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New post 01 Aug 2016, 05:09
gmat6nplus1 wrote:
I am teetering on this one; I eventually got the right answer but I am still baffled. Could you provide some in depth analysis? Good luck.

Psychologist: We asked 100 entrepreneurs and 100 business managers to answer various questions and rate how confident they were that their responses were correct. While members of each group were overconfident, in general the entrepreneurs were much more so than the business managers. This indicates that people who are especially overconfident are more likely to attempt to start a business in spite of the enormous odds against success than people who are less confident.


Which one of the following, if true, lends the most support to the psychologist’s conclusion?

(A)The questions asked of the entrepreneurs and business managers included personal, political, and business questions.
(B)At least some of the entrepreneurs surveyed had accurately determined before attempting to start their businesses what the odds were against their attempts being successful.
(C)Another survey showed that degree of confidence was highly correlated with success in business.
(D)The business managers who were most overconfident were found to have attempted to start businesses in the past.
(E)How confident each person surveyed was that his or her answers to the questions asked were correct corresponded closely to that person’s confidence in his or her business acumen.


Can someone please explain what's wrong with E? I was battling between D and E but went with E because it related confidence on answers with confidence on business sense. Higher the confidence in answers. higher the confidence in business sense and thus despite odds over confident people would venture into the business.
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Re: Psychologist: We asked 100 entrepreneurs and 100 business managers to  [#permalink]

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New post 01 Aug 2016, 06:47
A ~ what kind of ques asked does nt indicate anything abt characterstics of entrepreneur.

C~ just opp of the premises..ques given that odds of sucess against entrepreneur

D imo correct

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Re: Psychologist: We asked 100 entrepreneurs and 100 business managers to  [#permalink]

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