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Correlation Matrix for a Company's Sales

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A correlation matrix (correlation coefficients and probability level under the hypothesis rho=0) for a company's sales force (age, years of service, and current sales) is given below. Comment.

Age Years of Service Current Sales
Age 1.00000 .68185 .21652
.0000 .0208 .5225
Years of Service .68185 1.00000 .64499
.0208 .0000 .0321
Current Sales .21652 .64499 1.00000
.5225 .0321 .00000

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Solution Summary

The solution creates a correlation matrix for a company's sales. The correlation coefficients and probability is given.

Solution Preview

Since the correlation coefficient between the two variables Age and year of service is 0.68185, since the correlation coefficient is positive and strong it is directly proportional so, if Age increases the Year of service ...

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