I don't think this is quite correct. A classical bit can be 0 or 1, either/or. A qubit, because of quantum superposition, is in a sense partially both values, a probability smear across the two, until it is measured, when it resolves to a definite classical 0 or 1 outcome. In a system with multiple entangled qubits, the number of values covered increases 2^n. Two entangled qubits cover 2^2=4 possibilities, 00, 01, 10, 11. Three entangled qubits cover 2^3=8, 000, 001, 010, 011, 100, 101, 110, 111. And so on. A QC will assess the probabilities associated with all possible classical values.