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The correlation between sales and price is -0.6 and that between sales and advertising is 0.7. Based on this statement, what can you say about
The correlation between sales and price is -0.6 and that between sales and advertising is 0.7. Based on this statement, what can you say about the relationship between sales and price and advertising expenditures in the category? What information does the sign of the correlation provide? What limitation of correlation analysis does regression analysis help overcome - how?
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