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Perform a correlation analysis among the cost drivers. That is, you should compute the correlation between every pair of the cost driver. Identify the pairs
Perform a correlation analysis among the cost drivers. That is, you should compute the correlation between every pair of the cost driver. Identify the pairs of cost drivers that have an absolute value of correlation above 0.6. You can use the Excel function CORREL(arry1, array2) or use the menu Data->Data Analysis->Correlation Analysis to compute the correlation. Please provide step by step instructions on how to go about performing this correlation analysis.
\begin{tabular}{|r|} \hline In(Volume) \\ \hline 11 \\ \hline 12 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 13 \\ \hline 11 \\ \hline 11 \\ \hline 12 \\ \hline 10 \\ \hline 14 \\ \hline 11 \\ \hline 10 \\ \hline 13 \\ \hline 11 \\ \hline 12 \\ \hline 10 \\ \hline 11 \\ \hline 11 \\ \hline 10 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 10 \\ \hline 12 \\ \hline 11 \\ \hline 13 \\ \hline 13 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 12 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline \end{tabular} Notes: 1) Type options: Recipricating or scroll 2) Regions: Europe, North America, South America, Asia 3) Unit Volume: annual unit purchases 4) EER: Energy Efficiency Rating \begin{tabular}{|r|} \hline In(Volume) \\ \hline 11 \\ \hline 12 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 13 \\ \hline 11 \\ \hline 11 \\ \hline 12 \\ \hline 10 \\ \hline 14 \\ \hline 11 \\ \hline 10 \\ \hline 13 \\ \hline 11 \\ \hline 12 \\ \hline 10 \\ \hline 11 \\ \hline 11 \\ \hline 10 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 10 \\ \hline 12 \\ \hline 11 \\ \hline 13 \\ \hline 13 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 12 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline \end{tabular} Notes: 1) Type options: Recipricating or scroll 2) Regions: Europe, North America, South America, Asia 3) Unit Volume: annual unit purchases 4) EER: Energy Efficiency RatingStep by Step Solution
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