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What is the purpose of using correlation analysis How might correlation analysis be used in business decisions or in strategy formulation and implementation?
The correlation analysis is use in research to measure and interpret the strength of a logistic relationship between variables.
What is the purpose of a correlation analysis?
The purpose of correlation analysis is to check the association between two items. This can be useful in determining accuracy.
What does Correlation of plus 1.00 mean?
It mean that there is no correlation between the two variables. The variables are the same.
is it possible to use primary data as independent variable and secondary data as independent variable in correlation analysis and regression analysis?
Possible maybe
How can correlation and regression analysis be used to make strategic decisions in a dynamic competitive business environment filled with risk and uncertainty.?
Correlation and regression analysis can help business to investigate the determinants of key variables such as their sales. Variations in a companies sales are likely to be related to variation in product prices,consumers,incomes,tastes and preference's multiple regression analysis can be used to investigate the nature of this relationship and correlation analysis can be used to test the goodness of fit. Regression can also be used to estimate the trend in a time series to make forecast
