Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help to explain the meaning of these results of forecast case analysis: 4- Obtain the correlation matrix for all six variables and list

I need help to explain the meaning of these results of forecast case analysis:

4- Obtain the correlation matrix for all six variables and list the variables that have strong correlation with Demand.High correlation is r > 0.50.Explain your findings in plain language.

PERIOD PRICE AIP DIFF ADV DEMAND

PERIOD 1

PRICE 0.688008 1

AIP -0.06482 -0.23261 1

DIFF -0.55349 -0.87371 0.676348 1

ADV 0.93585 0.541965 -0.01744 -0.41918 1

DEMAND 0.928649 0.558794 -0.08975 -0.4681 0.939748 1

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Algebra and Trigonometry

Authors: Ron Larson

10th edition

9781337514255, 1337271179, 133751425X, 978-1337271172

More Books

Students also viewed these Mathematics questions

Question

transforming waste into a new product or selling it;

Answered: 1 week ago