From my lecture note at university #6 (Modeling with statistics)

Today’s topic was correlation analysis. It is easy to understand conceptually but a bit hard to learn how to apply the technique for a practical business case.無題

One of the critical goals of my class is to know how to effectively apply those techniques to the real world. The first question was to verify the effectiveness of the marketing expenditures to invite potential customers.

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At the same time, they learned how to calculate a coefficient of correlation with the Excel funtion (CORREL). In my class, students do NOT learn the fomula to get a coefficient but learn what correlation means and how to use it.

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Finally I touched upon some potential pitfalls when you read the analysis results. I showed some common questions and cases to understand how you easily fall in the traps.

At the end of the class, the 2nd assignment was announced, for which correlation is required to use. Good luck!

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