Quantitative analysis is using data from your business to determine its success. It helps you look at data to determine what needs to be changed in the company or what is working for the company. You can use quantitative analysis to make purchasing decisions, marketing decisions, and even sales decisions
UNIT: I CORRELATION AND REGRESSION ANALYSIS
1. Define Correlation.
ANS: Correlation means a possible connection or relationship or independence between the values of two or more variables of the same phenomenon or individual series, it Indicates the strength of the relationship.
2. What is a linear correlation?
Ans: It means the number of changes in one variable tends to bear a constant ratio to the amount of the change in the other variable
3. What is the negative correlation?
Ans: If the values of the to the variable device in the opposite direction, correction is said to be negative or indirect” it means the increase in the values of one variable result on an average, in a corresponding decreases in the values of another variable.
4. What is meant by perfect correlation?
Ans: Perfect correlation is a relationship between variables in which both variables move in tandem.
5, Define “Rank-Correlation”.
Ans: Rank- Correlation is the correlation between the “Rank” Of “n” Individuals in the two or more variables.
6. What are the regression lines?
Ans: From the two variables X and Y, there are two regression lines as the regression of X on Y and other line Y on X. The regression line of Y on X gives the most probable values of Y for given values X.The regression line X on Y. Gives the most probable values of X for the Given Values of Y.