What Do You Deduce from The Correlations?

What Do You Deduce from The Correlations?

Instructions/Descriptions

What Do You Deduce from The Correlations?

What do you deduce from the correlations?

A correlation has two fundamental qualities including strength, and direction. The direction of a correlation can be described as either negative or positive.

In a positive correlation, the variables involved move in the same direction. This implies that if one variable increases, then other one also increases. For example, if we take two variables say, education and salary, the higher the level of education attained the higher the amount of salary that one is likely to get.

In a negative correlation, the variables move in opposite directions. The implication of this kind of correlation is that if one variable increases, the other one decreases. For instance, there is a negative correlation between taxation and the amount of salary obtained. A higher tax results to more deduction on the net salary that an employee receives.

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What do you deduce from the correlations?

The correlations indicate that as much as the E-Rate program was a huge success, some variables such as better performance in test scores remained relatively unchanged. Nonetheless, such a move is headed to the right direction because it conforms to the 21st Century society to keep both rural and urban educated students at par with each other.

Correlations can be used to predict the outcome of programs that require huge capital investment. By simply weighing up the outcome of selected variables, an individual or an organization is able to avoid undertaking projects that are likely to cause monumental loses if implemented. Similarly, correlations also help investors or organizations to pursue projects with specific objectives in mind through identification of variables.

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What are the implications for the school lunch market for widgecorp?

The school lunch market is a feasible idea for WidgeCorp; however, the existence of the school lunch subsidies program can be an impediment to the successful penetration into the school lunch market. The idea could be even harder to implement if WidgeCorp is planning to venture into schools that are already under the school lunch subsidy program.

What are the implications for the penetration into the lunch market?

A successful penetration into the school lunch market will have huge returns for WidgeCorp. This is because the schools have students who will provide a consistent customer base for food and snacks that they sell.

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How to use the correlation tools to identify the variables in the research towards expansion of the snack food market?

Correlation tools can be used to predict future trends in the market for the snack food market. For example, if the number of customers is considered a variable and internet target marketing as another variable, there is a positive correlation exists between these two variables.

If the snack food sellers promote their products through internet marketing it will be accompanied by a rise in the number of customers. This is because most people have access to the internet and using such platform will be an effective marketing strategy (Goolsbee & Guryan, 2003).

Reference

Goolsbee, A. D., & Guryan, J. (2003). Closing the digital divide: Internet subsidies in public schools. Capital Ideas, 5 (1). Retrieved from the University of Chicago Booth School of Business.

What Do You Deduce from The Correlations?

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