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A Business Model Is a Description of How Different Levels

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A business model is a description of how different levels and employees in the organization must perform for the organization to achieve its goals and objectives.


Definitions:

Total Variation

The overall measure of variability within a dataset, including both the explained and unexplained variance.

Coefficient of Determination

A measure in statistics that shows the proportion of the variance in the dependent variable that is predictable from the independent variable(s).

SSE

Sum of Squared Errors; a measure of the discrepancy between the data and an estimation model.

Regression Coefficients

Quantitative measures that assess the relationship between the dependent variable and each independent variable in regression analysis.

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