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Yes, that hits factor is actually BABIP as that is how it is applied in the game.
If the game supported it we could have a K factor. However, K rate is probably more influenced by foul territory rather than the batter eye. If you have a lot of foul territory you get more foul outs, which reduces strikeouts. Whereas with less foul territory the ball goes into the stands and there is an additional opportunity to strikeout.
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