Correlation Analysis - Statistics Help

Correlation Analysis - Statistics Help

Correlation is a measure, statistical in nature capable of indicating the extent by which variables are fluctuating together. In general, a parallel increase or decrease of the variables is known as a positive correlation and a negative correlation is when one variable increases and another decreases. This means that the fluctuation of one variable will predict the fluctuation of the variable it is related to. Correlation analysis is applicable to various fields. When it comes to business correlation analysis helps an executive in the estimation of sales, costs, prices and various other variables all under the notion that these variables can be related to one other. Guesswork is not involved and the removal of certain variables will show the variations that are fluctuating in a similar manner.