Asked by Jamie Skubal on Feb 18, 2024
Verified
Sanity checks are necessary when calculating your market size just to be certain you aren't overlooking something obvious.
Entrepreneurship
A way of thinking, acting, and being that combines the ability to find or create new opportunities with the courage to act on them.
- Understanding the purpose of sanity checks in ensuring accuracy and reliability
- Techniques and methods for performing sanity checks in market size calculations
- Importance of conducting sanity checks in market size calculations
Verified Answer
MI
Mohammad Istanboli
Feb 18, 2024
Final Answer :
True
Explanation :
Sanity checks help ensure that you have considered all relevant factors and that your market size calculation is reasonable and accurate. It is always a good practice to perform a sanity check before making any key business decisions based on your market size estimates.
Learning Objectives
- Understanding the purpose of sanity checks in ensuring accuracy and reliability
- Techniques and methods for performing sanity checks in market size calculations
- Importance of conducting sanity checks in market size calculations
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