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State Some Methods Retailers Might Use to Increase the Gross

question 35

Essay

State some methods retailers might use to increase the gross margin on sales.


Definitions:

Coefficient of Determination

A statistic that indicates the proportion of the variance in the dependent variable predictable from the independent variable(s).

Correlation

A quantitative measure that indicates the extent to which two or more variables fluctuate together.

Correlation Coefficient

A numerical measure that quantifies the degree to which two variables are related, ranging from -1 (perfect negative correlation) to +1 (perfect positive correlation).

One-tailed Hypothesis

A hypothesis test that considers either a decrease or an increase in a specific direction, focusing on one end of the probability distribution.

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