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Enterprise Risk Management Contains Eight Components

question 9

Essay

Enterprise risk management contains eight components.Identify at least six and explain its importance to managing risk within a company.


Definitions:

Directional Null Hypothesis

A specific type of null hypothesis that posits no predicted direction of the effect or association between variables.

Directional Alternative Hypothesis

A hypothesis that specifies the direction of the expected difference or relationship between variables (e.g., greater than, less than).

Non-directional Alternative Hypothesis

A hypothesis that specifies there is a statistical difference without stating the direction of the difference.

Non-directional Null Hypothesis

A type of null hypothesis that specifies there will be no change or difference without stating a direction of change.

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