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Explain Systems Thinking and How Management Information Systems (MIS) Enable

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Explain systems thinking and how management information systems (MIS) enable business communications.


Definitions:

Simple Linear Regression

A statistical method that models the relationship between a dependent variable and one independent variable using a linear equation.

Confidence Interval Estimate

An estimated range of values calculated to determine the confidence level for the parameter being measured in a population.

Prediction Interval

A calculated range predicting where future measurements are expected to lie, considering previous data, and accompanied by a designated probability.

Spearman Rank Correlation Coefficient

A rank correlation metric that does not rely on parametric assumptions to evaluate how effectively a monotonic function describes the connection between two variables.

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