Identify and Briefly Explain at Least Two Key Factors in Economic

question 105

Short Answer

Identify and briefly explain at least two key factors in economic, sociocultural and political-legal environments that affect an organization.

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Definitions:

Correlation Coefficient

A statistical measure that calculates the strength of the relationship between two variables.

Sum of Squares

The total of the squared differences between each data point and the mean of the dataset, used in various statistical calculations.

Regression SSR

The sum of squared deviations of predicted values from the mean of the dependent variable in regression analysis, indicating the variability explained by the regression.

Standard Error

The standard deviation of the sampling distribution of a statistic, typically the mean.