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Describe the Balanced Scorecard Approach and list at least three significant reasons why it can fail as an analysis tool.
Stochastic Relationship
A relationship between variables or processes that involves randomness, implying that predictions can only be made probabilistically.
Regression Analysis
A statistical technique for modeling and analyzing the relationships between a dependent variable and one or more independent variables.
Dependent Variable
The variable in an experiment that is expected to change in response to manipulations of the independent variable.
Regression Line
A line through a scatter plot of data points that best expresses the relationship between those points.
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