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Unit 5 Individual Project

Unit 5 Individual Project

Q Next, download the file Sample Data. Prepare a chart similar to the one in the downloaded file to indicate whether the correlation between Variables A and B were found to be positive, negative, or minimal. Provide explanation and justification for your decisions. In your own words, explain what it means if the correlation of 2 variables is positive, negative, or minimal (close to 0), and give an example of each. • What do you deduce from the correlations? Explain if you believe these to be short or long-term objectives and outcomes. • What are the implications for Big D Incorporated regarding their client in the outdoor sporting goods? • What are the implications for the penetration into the indoor sporting goods market? • Also, how can you use the correlation tools to identify the variables in the research toward the expansion into the indoor sporting goods market?

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The correlation indicates the strength of the relationship between two variables. The correlation value is a numeric figure that reflects the degree of dependence between the two variables. If the variables have a direct relationship, then there is a positive correlation between them, and if they have an inverse relationship, then the correlation is negative. In case, the variables are loosely related to each other, they have a minimal correlation. The correlation can be used as a significant tool in business decision making since it provides a better idea about the underlying relationships among the impacting factors of a business environment.