...What is the purpose of using correlation analysis? How might correlation analysis be used in business decisions or in strategy formulation and implementation? Provide an example Correlation is a synonym that describes how someone or something is similar. It can also be used to illustrate instances of similarity among situations, people, or things that are otherwise different in nature to the other situations, people, or things. Businesses can effectively use correlation analysis to determine what common factors impact undesirable outcomes so that the managers are able to make changes, and the process also helps in determining the factors that impact desirable outcomes so that managers can take note of what to continue doing. Correlation analysis basically allows those evaluating various aspects of the business to make connections by analyzing cause and effect of various outcomes. It can be used in business decisions or in strategy formulation and implementation if a business were to use it effectively.Take an example of a small business. that determined that, over the course of the last six years, the business' revenue shot up over 40% each year when the business invested in professional, targeted marketing services versus the other three years in which the business lost money or broke even when the business owner whose skill set is in construction took on the task of building the company's marketing campaign by experimenting and using new marketing software and reading...
Words: 271 - Pages: 2
...Business Statistics Topic: Correlation and Regression Recommended Readings: Lind D.A., Marchal W.G., and Wathen S.A. (2012), Statistical Techniques in Business and Economics, 15th International Ed., McGraw Hill [Chapter 13] Earlier edts are also suitable. Waters, D., (2008) Quantitative Methods for Business,4th Ed., Financial Times, Prentice Hall [Chapter 9] When we look at interval or ratio scale variables there is often a relationship, eg: price and quantity demanded; time spent studying and exam results obtained; gardai (police) on duty and number of crimes as well as alcohol consumed and sensibility! Regression and correlation analysis is useful because it allows us predict the value of one variable from the knowledge of another. The said relationship can be positive or negative. One first step in establishing if any of these relationships exist is to draw a scatter graph. A Scatter plot or diagram is a chart that portrays the relationship between the two variables. It is the usual first step in correlation analysis * The Dependent variable is the variable being predicted or estimated. * The Independent variable provides the basis for estimation. It is the predictor variable. Correlation Analysis From a scatter plot we have a first picture of the data. The next step is to calculate a measure which can assess the strength of that relationship. The correlation coefficient r which represents correlation in a sample is calculated as: r =...
Words: 2693 - Pages: 11
...Introduction 3 1.1 Background of the Study 3 1.2 Problem Statement 5 1.3 Study Objectives 5 1.4 Significance of the Study 6 1.5 Hypotheses 6 2.0 Research Methodology 7 2.1 Research Design 7 2.2 Population and Sample Size 7 2.3 Research Instrument 8 2.4 Variables 9 3.0 Business Strategy 9 4.0 Training in Banks 13 5.0 Data Analysis and Findings 17 5.1 Respondents’ Profile and Frequency Analysis 18 5.2 Descriptive Analysis 22 5.3 Reliability and Validity Analysis 24 5.4 Correlations 27 Conclusion 36 Recommendations 37 References 38 LINKING TRAINING WITH BUSINESS STRATEGY: A STUDY OF MULTINATIONAL ORGANIZATION (BANKS) IN PAKISTAN Shazia Zaman Dr. Nadir Ali Kolachi Abstract Training is one of the key functions of Strategic Human Resource Development and it has a strong influence in steering the organization in the direction of its planned business strategies. However to what extent is training effective and how strongly it contributes in getting the organization aligned with its business strategy is what this study will account for. The linkage between training and business strategy has been built in such a manner that training improves the skill level of employees, enhances their job related knowledge and equips them with the essential elements, which then leads to more focused efforts towards increasing the profitability of the organization.In this study six major banks were approached...
Words: 5521 - Pages: 23
...Statistical Analysis: CCResort Statistical Analysis: CCResort Student iD: z3465316 Student iD: z3465316 Business analytics department Nick Fabrio Business analytics department Nick Fabrio 2013 2013 Executive Summary: The following report was prepared by the Business Analytics Department (BAD) to assist with market research. BAD have assessed whether CCResort have positioned themselves as an “upmarket” complex with the ability to appeal to families. In order to assess the outcome of the business plan, BAD have focused on researching the type of customer that is attracted to CCResort, as well as how much they are spending over and above their accommodation costs, in addition to evaluating whether specific key performance indicators have been met. Approach: The Business Analytics Department used the following statistical tools to examine CCResort: 1. Descriptive Statistics (Mean, Mode, Range, Median, Skewness and graphical interpretations) 2. Correlation 3. Confidence Intervals 4. Hypothesis Testing Significant Findings: * CCResort typically hosts families in a higher income bracket over $100,000 (69% of guests) * Guests stay seven nights on average between 44.07% and 57.93% of the time with a 95% certainty. * Expenditure for each guest on a daily basis is between $227.61 and $240.95 on average with a 95% degree of accuracy. * Of all bookings, a significant majority of guests stay for either 2 or...
Words: 2041 - Pages: 9
...Independent University, Bangladesh A Research Proposal on Factors Influencing the Adoption of Internet Banking Prepared By Shawkat Zaman ID: 1130260 An Internship Report Presented In Partial Fulfillment Of The Requirements of the Degree Bachelor of Business Administration INDEPENDENT UNIVERSITY, BANGLADESH JANUARY 2015 A Research Proposal on Factors Influencing the Adoption of Internet Banking Prepared By Shawkat Zaman ID: 1130260 Has been approved January 2015 _______________ Mr. Parvez Ahmed Sharif Lecturer School of Business Independent University, Bangladesh Letter of Transmittal Mr. Parvez Ahmed Sharif Department of MIS Faculty of Business Studies Independent University, Bangladesh. Subject: Letter regarding submission of Internship Report on Factors Influencing the Adoption of Internet Banking. Dear Sir, Here is the report on “Factors Influencing the Adoption of Internet Banking” you asked me to conduct on the beginning of the Internship. In this assignment, I have tried to focus some key aspects of Internet Banking Services. While preparing this report, I tried my level best to follow your instructions and the instructions that have given to me by my organization supervisor. I appreciate having this assignment. I prepared this assignment with sincerity and serious effort. Thank you for providing me the opportunity to prepare this. I am really grateful to you for giving me the scope to prepare this report...
Words: 10549 - Pages: 43
...Regression Analysis Team A has determined to execute a linear regression analysis, an equation that states the linear association linking two variables, to conclude if home prices are established on distance (Doane & Seward, 2007). The computation and tests are founded on the real estate data table provided by Lind, Marchal, & Wathen, (2008). The global opinion of the Team A is that the distance to the city center determines the price of the home. h: Distance establishes price h: Distance does not establish price for any regression analysis there ought to be two variables, a dependent (price) and an independent (distance). With the intention of measuring the strength and direction of correlation, one would use a regression equation (Doane, 2007). According to the least squares standard, the equation for this is Y = a + bX. Y is the forecasted Y value, (a) is the y-intercept, and b is the slope of the line. Team A will be employing the data in the Data Set for the research: With the aim of interpreting, the data of two variables must be recognized (1) coefficient of correlation (R) and (2) coefficient of determination (R2). The square root of R2 is clearly r, which is the correlation coefficient (Orris, 2007 p211). Coefficient of the correlation will be a number between 0 and 1. The nearer the number is to 1.00, the stronger the correlation, and the farther the number is to 0.00, the lower the correlation. Given that the square root, r can also be a value as low as -1.00...
Words: 914 - Pages: 4
...customers satisfaction use as dependent variable. The research is quantitative in nature and random sampling technique has been used for data collection through a questionnaire survey and the sample size for this study was 100. Data have been analyzed through correlation and, multiple regressions. Key Words: Customers satisfaction, Service Quality, Price. Introduction In today’s competitive market services within the same industries become increase and due to this reason services industries differentiate the delivery of the services and product create positioning through the different communication channels (Wallin Andreassen, 1998). As for as services are concerned there is more need to be focused while marketing services offerings to the other region or nation. There must be some controls over it because it has to be marketed finely and keeping in mind the culture and customs of other nation. Services can be best offered by understanding the need of international market and the trends of people about the services there. There might be a need of changing some rules or offering while moving from one country to another. Services should be designed according to the requirement of the customers. If we talking about the product quality and quality in services people are more care full to choose the healthy product and also require the better environment. In food industry people are eating out often but they are increase saving the income and then use it for the better...
Words: 2375 - Pages: 10
...University of Frankfurt am Main Bachelor Seminar Business Cycle: Theory and Empirical Applications Country of interest: Netherlands Teacher: Prof. Ctirad Slavik Summer Semester 2013 Yisong Dong Student ID: 3903447 June 17.2013 Contents 1. Introduction……………………………………………………………………3 2. Data Work………………………...…………………………………………...3 2.1 2.2 2.3 2.4 2.5 Data……………………………………………………………………3 Detrending the data with Hodrick-Prescott Filter………………..……4 Basic Statistics for the detrended data………………………………...7 Construct the Solow residual without labor……………………...…..11 Construct the Solow residual with labor…………….………………12 3. Calibrating and simulating a simple stochastic RBC model…………………13 3.1 3.2 Two procedure for calibrating θ and calculating the I/K, K/Y and I/Y ratios……….…………………………………………………………13 Stimulation…………………………………………………………...16 4. Conclusion……………………………………………….………………...…21 References………………………………………………………………………..22 2 1. Introduction Business cycle refers to economy-wide fluctuations in production, trade and economic activity in general over several months or years in an economy organized on freeenterprise principles.1 It has been a well-documented feature of economic life for two centuries or more. Business cycle is the upward and downward movements of levels of GDP2 and refers to the period of expansions and contractions in the level of economic activities (business fluctuations) around its long-term growth trend.3 These fluctuations occur around...
Words: 3420 - Pages: 14
...HNC Diploma in Business | Unit-10 Business Decision MakingD/601/0578 | A | | Assignment title | Business Decision Making | In this assessment you will have opportunities to provide evidence against the following criteria. Indicate the page numbers where the evidence can be found. | Criteria reference | To achieve the criteria the evidence must show that the student is able to: | Task no. | Evidence | 1.1 | Create a plan for the collection of primary and secondary data for a given business problem | | | 1.2 | Present the survey methodology and sampling framed used | | | 1.3 | Design a questionnaire for a given business problem | | | 2.1 | Create information for decision making by summarising data using representative value | | | 2.2 | Analyse the results to draw valid conclusions in a business context | | | 2.3 | Analyze data using measures of dispersion to inform a given business scenario | | | 2.4 | Explain how quartiles, percentiles and the correlation coefficient are used to draw useful conclusions in a business context | | | 3.1 | Produce graphs using spread sheets and draw valid conclusions are based on the information derived | | | 3.2 | Create trend lines in spread sheet graphs to assist in forecasting for specified business information | | | 3.3 | Prepare a business presentation using suitable software and techniques to disseminate information effectively | | | 3.4 | Product a formal business report | | | ...
Words: 2409 - Pages: 10
...Journal of Business Economics and Management ISSN: 1611-1699 (Print) 2029-4433 (Online) Journal homepage: http://www.tandfonline.com/loi/tbem20 Evaluation of some business macro environment forecasting methods Vulfs Kozlinskis & Kristine Guseva To cite this article: Vulfs Kozlinskis & Kristine Guseva (2006) Evaluation of some business macro environment forecasting methods, Journal of Business Economics and Management, 7:3, 111-117 To link to this article: http://dx.doi.org/10.1080/16111699.2006.9636131 Published online: 14 Oct 2010. Submit your article to this journal Article views: 1769 View related articles Citing articles: 1 View citing articles Full Terms & Conditions of access and use can be found at http://www.tandfonline.com/action/journalInformation?journalCode=tbem20 Download by: [86.20.58.206] Date: 10 November 2015, At: 14:42 Journal of Business Economics and Management 2006, Vol VII, No 3, 111117 ISSN 1611-1699 EVALUATION OF SOME BUSINESS MACRO ENVIRONMENT FORECASTING METHODS Vulfs Kozlinskis1, Kristine Guseva2 Riga International School of Economics and Business Administration (RISEBA), Meza iela 1, k. 2, LV-1048 Riga, Latvia E-mail: 1Vulfs@rsebaa.lv, 2 kris@rsebaa.lv Downloaded by [86.20.58.206] at 14:42 10 November 2015 Received 06 03 2006; accepted 28 04 2006 Abstract. Latest studies in the field of business macro environment (BME) assessment and forecasting have been undertaken and successfully implemented...
Words: 3011 - Pages: 13
... |Credit | |1. |Business Statistics |3 | |2. |Operations & Optimization Research |3 | |3. |Economics for Managerial Decision Making – II |2 | |4. |Management Information System & KM |2 | |5. |Human Resource Management |2 | |6. |Financial Management |2 | |7. |Executive Communication |6 | |8. |National Economic Planning – I (Presentation Only) |2 | |9. |National Economic Planning - II |2 | BUSINESS STATISTICS (As per University Syllabus) UNIT 1. BUSINESS STATISTICS - WHAT AND WHY? INTRODUCTION • Definition of statistics • Five stages...
Words: 1759 - Pages: 8
...of expansion which is independent of line of business, market segment, or type of expansion. Expansion and investment are compared to have a clear understanding of how expansion for a firm and investment for a individual are similar to each other and how they differ with each other. INTRODUCTION Firms are attracted to capture the new liberalized market segments to pronounce their global existence and enhance their customer base. The literature emphasizes the points that should be discussed and resolved ,before making any decision regarding expansion. It is a design process for building a new set-up. Expansion involves various critical factors to be considered e.g risk of market, return from a new set-up, risk estimation, opportunity cost, expansion revision analysis , resource availability, dominant market study etc. Expansion decision is a strategic decision which is related to firm's objectives and mission. To quantify the expansion benefits is a very complex process as analysis involves various intangible variables like brand-value, employment generation, forward and backward integration, bringing competition to the market etc. One can safely say expansion is a "strategic decision" which has an eye on market, competitors and future of the firm . Psycho-socio behavior also plays a very important role in taking expansion decisions. Expansion Design process involves the following steps: 1.) Optimization of correlation-matrix 2.)...
Words: 1923 - Pages: 8
...AUTHORS, INCLUDING: Thirunavukkarasu Velnampy University of Jaffna 57 PUBLICATIONS 131 CITATIONS SEE PROFILE Available from: Thirunavukkarasu Velnampy Retrieved on: 26 January 2016 Global Journal of Management and Business Research Volume 12 Issue 13 Version 1.0 Year 2012 Type: Double Blind Peer Reviewed International Research Journal Publisher: Global Journals Inc. (USA) Online ISSN: 2249-4588 & Print ISSN: 0975-5853 The Relationship between Capital Structure & Profitability By Prof. (Dr). T. Velnampy & J. Aloy Niresh University of Jaffna, Sri Lanka. Abstract - Capital structure decision is the vital one since the profitability of an enterprise is directly affected by such decision. The successful selection and use of capital is one of the key elements of the firms’ financial strategy. Hence, proper care and attention need to be given while determining capital structure decision. The purpose of this study is to investigate the relationship between capital structure and profitability of ten listed Srilankan banks over the past 8 year period from 2002 to 2009.The data has been analyzed by using descriptive statistics and correlation analysis to find out the association between the variables. Results of the analysis show that there is a negative association between capital structure and profitability except the association between debt to equity and return on equity. Further the results suggest that 89% of total assets in the banking sector...
Words: 4978 - Pages: 20
...A Correlation Analysis of English Language Proficiency and Performance in Content-Area Cognitive Skills Kate O’Neill - Zayed University Peter M. Theuri – Northern Kentucky University Abstract: Literature is replete with studies indicating the need to develop students’ language skills. Little research has emphasized the importance of language proficiency in enhancing learning or performance in specific content-area courses. This study investigates whether a student’s English language proficiency can be associated with her performance in specific cognitive skills (knowledge, comprehension, application, and analysis) in an introductory accounting course. While the results show no association between TOEFL and performance, the mean of the English composition courses do show a significant association with knowledge and comprehension cognitive skills scores on the first financial accounting course. No associations were attached to the application and analysis cognitive skills. The results are meaningful to faculty in balancing language proficiency with quality instruction in content-area courses. Introduction and Reference Context: English as a language of instruction has quickly taken precedence in most of the universities and colleges around the world. What has also become commonplace is the interchange of students from country to country. The term “international students” has traditionally been attributed to students who matriculate in colleges...
Words: 3327 - Pages: 14
...probability concepts to business decisions. Students learn important criterion for developing effective research questions, including the creation of appropriate sampling populations and instruments. Other topics include descriptive statistics, probability concepts, confidence intervals, sampling designs, data collection, and data analysis – including parametric and nonparametric tests of hypothesis and regression analysis. Cooper, D.R., & Schindler, P.S. (2006). Business research methods (9th ed.). Boston, MA: McGraw-Hill/Irwin. Lind, D. A., Marchal, W. G., & Wathen, S. A. (2008). Statistical techniques in business and economics (13th ed.). Boston, MA: McGraw-Hill/Irwin. All electronic materials are available on the student website. |Week One: Descriptive Statistics and Probability Distributions | | |Details |Due |Points | |Objectives |Compute descriptive statistics for given data sets. | | | | |Apply probability concepts related to discrete and continuous probability. | | | |Readings |Read Ch. 3, 5, 6, & 7 of Statistical Techniques in Business & Economics. ...
Words: 2342 - Pages: 10
