Question
You are working for a venture capital firm and the founder of a new start-up is in your office making a pitch for funding. The
You are working for a venture capital firm and the founder of a new start-up is in your office making a pitch for funding. The start-up has developed new software to protect firms' data stored on the cloud. As part of their market research, the start-up sent out a survey to 100 potential clients asking if they would be interested in using this software. They find that 54% of the respondents said "yes". The founder is trying to convince you to invest since the majority (i.e., >50%) indicated an interest in buying the software. Do you believe that this is sufficient evidence to conclude that the majority of potential clients are actually interested? If so, explain why. If not, explain why not and provide a more statistically sound solution
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