Type: Individual Project
Unit: Using Business Drivers and Analysis of Effectiveness: Correlations
Deliverable Length: Answer the questions
Essentials of Business Statistics: Appendix A
Read the following article:
Maalerud, E. (2020). How predictive forecasting can benefit your business. https://www.sapanalytics.cloud/resources-predictive-forecasting/
For this assignment, do the following:
• 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,
• 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 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?
Determine appropriate sampling methodologies for business settings and situations.
Explain the various methodologies and applications relating to levels of measurement, central tendency, dispersion, and other key statistical metrics.