Share
Explore BrainMass

Correlation analysis

Share the practical applications of the study from the Unit 2 Individual Project. How would the results of this survey be used in the workplace?

Briefly describe correlational research. Name a variable from this study and one from the workplace that might prove to provide a correlational relationship and explain why you would choose these two? What did you learn about correlation and causation while completing the course?

Attachments

Solution Preview

See the attached word file for answers. I am also attaching the Excel file as some of the answers to the unit2 problems seems to be incorrect.

Share the practical applications of the study from the Unit 2 Individual Project. How would the results of this survey be used in the workplace?

Not only can statistics be used when dealing with employees, but business statistics is the science of "good" decision making when faced with uncertainty and can be used in financial analysis, econometrics, auditing, production and operations, and marketing research. It can provide knowledge and skills to interpret and use statistical techniques in a variety of business applications. Statistics are vital for any stage of business planning, providing information on existing and potential markets, measuring industry performance and indicating social and economic trends. So, by gathering the pertinent data and figuring the probabilities, there can be a good understanding of what is happening to business in a region, which will improve planning and marketing.

The results of the survey can be used by the managers to formulate policies so that the overall satisfaction ...

Solution Summary

The solution provides how to approach a correlational research, briefly describes it. The problem uses the data on employee satisfaction to show how we can make use of concepts of correlation to understand and interpret relationships in the data. It also talks about the major learning from course about correlation and causation.

$2.19