Explain Four Strategies That Businesses Can Use to Help Them

question 20

Essay

Explain four strategies that businesses can use to help them get the most benefit from their contributions.Cite examples of companies that adopt these strategies.

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Definitions:

Residual

The difference between observed values and the expected values in a statistical model, indicating the error or deviation from the predicted model outcome.

R Squared

A statistical measure of how close the data are to a fitted regression line, indicating the proportion of variance in the dependent variable explained by the independent variable(s).

Electricity Usage

The amount of electrical energy consumed by a household, organization, or area within a specific period.

Linear Model

A statistical model that assumes a linear relationship between the input variables (predictors) and a single output variable.