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Phatak and Habib define external stakeholders as:
Covariance
A measure of the degree to which two variables change together, indicating the direction of their linear relationship.
Coefficient of Correlation
A statistical measure that calculates the strength and direction of a linear relationship between two variables on a scatter diagram.
Expected Value
The long-term average or mean of a random variable, representing the anticipated outcome of an experiment conducted many times.
Shopping Outlet
A retail store or a collection of stores where goods are offered for sale to the public, often characterized by type of merchandise or discount pricing.
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