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