02 Dec 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 i
- 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 an 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 its 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?
|
Variable A |
Variable B |
Correlation: |
|
positive, negative, minimal? |
||
|
Number of indoor basketball leagues in demographic area |
Three college basketball teams and one NBA team in region to spark interest. |
|
|
High demographic of younger target market. |
Lack of any indoor sporting facilities. |
|
|
High number of indoor sporting facilities. |
Extremely warm geographic area. |
|
|
Rural geographic setting. |
High-income geographic area. |
|
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