Prediction, Regression, and Correlation Analysis
Not what you're looking for?
Identify and briefly discuss two important concepts (Prediction and Regression/ Correlation or Regression) applicable to analytical methodology.
Purchase this Solution
Solution Summary
Correlation analysis and regression analyses are described as they related to the business environment.
Solution Preview
Ghauri and Gronhaug (2005) noted that explaining and predicting relationship between variables is important tasks in research. In business, a researcher may want to determine the relationship between the amount of money spent on advertisement and sales or market share of the company. In education, a researcher may be interested in determining the relationship between amount spent on training and development of teachers and their level of productivity. The results of these will be important inputs in making business- and education-related decisions.
Correlation analysis shows the strength and direction of association between two variables. The value of the correlation coefficient indicates the strength of association while the sign reflects the direction of association between the two variables. A correlation coefficient of +.80 to +1.00 indicates a strong positive correlation between two variables being analyzed. On the other hand, a -.20 to -.40 correlation coefficient indicates a very weak negative correlation between the two ...
Education
- Bachelor of Science in Business Administration, University of the Philippines
- Master in Business Administration, Saint Mary's University
- Doctor of Philosophy in Education, University of the Philippines
- Doctor in Business Adminstration (IP), Polytechnic University of the Philippines
Recent Feedback
- "Excellent information thanks for the input"
- "Thank you"
- "Very thorough and informative. Thank you."
- "Good response. Very detailed"
- "This solution is excellent. Thank you"
Purchase this Solution
Free BrainMass Quizzes
Measures of Central Tendency
This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.
Know Your Statistical Concepts
Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.
Measures of Central Tendency
Tests knowledge of the three main measures of central tendency, including some simple calculation questions.
Terms and Definitions for Statistics
This quiz covers basic terms and definitions of statistics.