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.In most firms, functional managers within each area make independent decisions using similar techniques. The objective is to____________________ while ___________________________.
Plot Residuals
A graphical representation used in statistics to show the difference between observed and predicted values given by a model.
Normality
A statistical assumption that a dataset follows a normal distribution, characterized by a symmetrical bell-shaped curve.
Residuals
Residuals are the differences between observed and predicted values in a statistical model, reflecting the discrepancy in predictions.
Variance
A measure of the spread or dispersion of a set of data points, calculated as the average of the squared differences from the mean.
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