Managers will use_______ probabilities to estimate the likelihood of a profitable entry into a foreign market.

Question

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Estimating the likelihood of a profitable entry into a foreign market is based on subjective probabilities as managers will have to make an informed guess based on their experience, knowledge, and other factors that may or may not be quantifiable. Objective probabilities are based on data and statistics, which may not always be available in the case of foreign market entry. Relative probabilities refer to the likelihood of one event happening in relation to another event, and known probabilities are based on past data, which may not apply to a new or unfamiliar foreign market.

Managers Will Use_______ Probabilities to Estimate the Likelihood of a Profitable