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Describe How Outliers May Affect a Correlation and How Can

question 38

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Describe how outliers may affect a correlation and how can one determine if there are outliers in the data.


Definitions:

Production Era

A historical period in business thought where the focus was primarily on production efficiency and manufacturing output, often at the expense of customer needs or desires.

Consumer Demand

The desire of purchasers for products or services that they are willing and able to buy at given prices.

New Strategies

Innovative approaches and plans developed to achieve specific goals or solve problems, often in response to changes in the environment or industry trends.

Need

A requirement or necessity for something essential or desired to achieve a particular outcome.

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