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, 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.|