Given below is the scatter plot of the number of employees and the total revenue ($millions)of 20 U.S.companies.There appears to be a positive relationship between total revenue and the number of employees.
Definitions:
Effect Size
A quantitative measure of the magnitude of a phenomenon or the strength of the relationship between variables, often used in statistical analysis to assess the significance of findings.
Standard Deviation
Standard Deviation is a statistical measure that quantifies the amount of variation or dispersion of a set of data points from their mean.
Return On Investment
A performance measure used to evaluate the efficiency or profitability of an investment, calculated by dividing the benefit (or return) of an investment by the cost of the investment.
Training
The process of enhancing the skills, capabilities, and knowledge of employees for performing specific jobs.
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