(All Steps) About 60% of small and medium-sized businesses are family-owned. A TEC International Inc. survey asked the chief executive officers (CEOs) of
Question: About 60% of small and medium-sized businesses are family-owned. A TEC International Inc. survey asked the chief executive officers (CEOs) of family-owned businesses how they became the CEO (The Wall Street Journal, December 16, 2003). Responses were that the CEO inherited the business, the CEO built the business, or the CEO was hired by the family-owned firm. A sample of 26 CEOs of family-owned businesses provided the following data on how each became the CEO.
Provide a frequency distribution.
- Provide a percent frequency distribution.
- Construct a bar graph.
- What percentage of CEOs of family-owned businesses became the CEO because they inherited the business? What is the primary reason a person becomes the CEO of a family-owned business?
Deliverable: Word Document 