Variable Correlation: Largest Correlation Opinion (Essay Sample)
What two variables have the largest correlation in your opinion?
Correlation is used to measure and explain the direction and the strength of the relationship between two variables. Normally positive correlation is evidence between products based on their prices. For me, the two variables with the largest correlation are the relation between the supply and demand. Even in situations when the supply remains constant, the price can change if the demand increases (Elshorbagyet al, 2016). Several circumstances can result in a similar movement of supply and demand in one direction. For example, in the situation when the price of fuel increases due to inadequate resources the prices of airline tickets will increase, the cost will affect the consumer resulting in a positive correlation between the demand and supply. A
- Product Lifecycle for Promotion Marketing Assignment Description: Increasing frequency of use, increasing the number of users, finding new users, and changing package sizes, labels, or product quality...4 pages/≈1100 words| 3 Sources | APA | Business & Marketing | Essay |
- Chabros International LimitedDescription: Chabros International Limited Case study Business and Marketing Essay Master's level...7 pages/≈1925 words| No Sources | APA | Business & Marketing | Essay |
- Impacts of the Assassinations of Martin Luther King, Jr. and Robert KennedyDescription: Even though President Johnson had shown his commitment to cooperate with the group’s desires in Viet Nam and other parts of the world, he did not meet the requirements of the group in other areas...1 page/≈275 words| 1 Source | APA | Business & Marketing | Essay |