BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Correlations have three important characterstics. They can tell us about the direction of the relationship, the form (shape) of the relationship, and the degree (strength) of the relationship between two variables.

Detailed explanation-2: -Hence, it can be concluded that the major characteristic of correlation analysis is to seek out association among variables.

Detailed explanation-3: -Technically, association refers to any relationship between two variables, whereas correlation is often used to refer only to a linear relationship between two variables. The terms are used interchangeably in this guide, as is common in most statistics texts. A scatter plot shows the association between two variables.

Detailed explanation-4: -The value of the correlation coefficient describes the strength of the relationship between the two variables.

Detailed explanation-5: -Correlated attribute: is an attribute whose information contents are partially contained in another attribute or a set of attributes. The more correlated the attributes are, the more interdependent they are, and the more redundance we get.