Description
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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Explanation & Answer
Attached.
Running Head: USING BUSINESS DRIVERS AND ANALYSIS OF CORRELATION
Using Business Drivers and Analysis of Correlation
Name
Instructor
Institutional Affiliation
Date
1
2
USING BUSINESS DRIVERS AND ANALYSIS OF CORRELATION
Correlation:
Variable A
Variable B
Number of indoor basketball
leagues in a demographic area
Three college basketball teams
and one NBA team in the
region to spark interest.
Positive
High demographic of the
younger target market.
Lack of any indoor sporting
facilities.
Negative
High number of indoor
sporting facilities.
Extremely warm geographic
area.
Minimal
Rural geographic setting.
High-income geographic area.
Positive
Positive, negative, minimal?
The first coefficient is positive because the two variables are moving in tandem (similar
direction). It is important to note that a positive correlation exists when one variable decreases in
the same way to the other variable or if one variable increases in a similar way the other variable
increases (Akoglu, 2018). From the variables, it ...