3.Discuss an example on how managers can use correlation and causation to decide whether to increase...
3.Discuss an example on how managers can use correlation and causation to decide whether to increase or decrease the price of a product.
Homework Answers
It can be mentioned that during the festive season many people tend to gift something and in order to motivate people you must understand how actually the consumer behaviour is where you can find the perfect correlation between the price and the level of sales of a particular gift item and based on that he can increase or decrease the price accordingly so that it would result in maximum amount of sales and in this way the cause would be the festive season and the effect would be that of more cells due to the change in price all in all and this is one example where manager can use correlation and causation to decide whether to increase or decrease the price
Add Answer to:
3.Discuss an example on how managers can use correlation and
causation to decide whether to increase...
Give an example of variables that have correlation but no causation exists? [1 sentence or a...
Give an example of variables that have correlation but no causation exists? [1 sentence or a graph] You may NOT use the ice cream/crime example AND you may not copy information verbatim from websites. You may look at https://stats.stackexchange.com/questions/36/examples-for-teaching-correlation-does-not-mean-causation for examples but you need to (at a minimum) put what you find in your own words and explain what the true cause of the relationship is. In the ice cream/crime example it was found that in a particular city that...
Q1. How can managers make higher-quality decisions? Give an example of decision made by one...
Q1. How can managers make higher-quality decisions? Give an example of decision made by one company and discuss how the mangers will make high quality decision? (3 Points) Q2. Give a numerical example of cost function and analyze this cost function? Discuss how is this cost function used in decision making? (3 Points) Q3. Find a numerical example of cost-volume-profit (CVP) analysis, and analyze how CVP analysis is used for decision making? (4 Points)
How can managers make higher-quality decisions? Give an example of decision made by one company and...
How can managers make higher-quality decisions? Give an example of decision made by one company and discuss how the mangers will make high quality decision?
Cost Accounting = How can managers make higher-quality decisions? Give an example of decision made by...
Cost Accounting = How can managers make higher-quality decisions? Give an example of decision made by one company and discuss how the mangers will make high quality decision?
Correlation Can a Pearson's r value be great than 1 or less than -l? Why or...
Correlation Can a Pearson's r value be great than 1 or less than -l? Why or why not? How do we calculate Pearson's r? How do we calculate df for a correlation? o What does the covariance represent mathematically? 0 How many standard deviations do we need to calculate to calculate the r value? 0 What is an example of an r value that represents a strong correlation, what about a weak correlation? What is the r value associated with...
1). Decide whether there is a positive correlation, negative correlation, or no correlation in the following...
1). Decide whether there is a positive correlation, negative correlation, or no correlation in the following pairs of variables: A) Amount of alcohol consumed and speed of reaction to a suddenly appearing stimulus. B) Height and intelligence. C) Number of calories consumed and weight. D) How much pain a person is in and happiness. E) The rating of physical attractiveness of husbands compared to the rating of physical attractiveness of their respective wives. F) IQ scores and the number of...
Discuss four methods people may use to decide how to cast their vote on Election Day....
Discuss four methods people may use to decide how to cast their vote on Election Day. Discuss whether each method provides an intelligent shorthand for making a voting decision.
Discuss why managers estimate a cost function and use Cost volume Profit analysis? Give numerical example...
Discuss why managers estimate a cost function and use Cost volume Profit analysis? Give numerical example of cost function and Cost Volume Profit Analysis and analyze how it will be used by managers? b- Suppose actual costs are higher than estimated cost. Analyze why you may have this difference between actual and estimated costs?
Discuss why managers estimate a cost function and use Cost volume Profit analysis? Give numerical example...
Discuss why managers estimate a cost function and use Cost volume Profit analysis? Give numerical example of cost function and Cost Volume Profit Analysis and analyze how it will be used by managers? b- Suppose actual costs are higher than estimated cost. Analyze why you may have this difference between actual and estimated costs?
Describe a correlation in your daily life. Using scientific methods, explain how you determined whether one...
Describe a correlation in your daily life. Using scientific methods, explain how you determined whether one variable causes the other to occur. In the example you chose, describe what factors you need to be aware of when trying to establish a causal relationship. Decide whether the scenario represents a case of positive or negative correlation, and explain your choice Someone do this for me please!
Correlation Can a Pearson's r value be great than 1 or less than -l? Why or why not? How do we calculate Pearson's r? How do we calculate df for a correlation? o What does the covariance represent mathematically? 0 How many standard deviations do we need to calculate to calculate the r value? 0 What is an example of an r value that represents a strong correlation, what about a weak correlation? What is the r value associated with...
1). Decide whether there is a positive correlation, negative correlation, or no correlation in the following pairs of variables: A) Amount of alcohol consumed and speed of reaction to a suddenly appearing stimulus. B) Height and intelligence. C) Number of calories consumed and weight. D) How much pain a person is in and happiness. E) The rating of physical attractiveness of husbands compared to the rating of physical attractiveness of their respective wives. F) IQ scores and the number of...
Most questions answered within 3 hours.
-
For a particular RLC series circuit, the capacitive reactance is
6.85 Ω, the inductive reactance is...
asked 2 minutes ago -
In an aqueous mixture of aluminum, lead, and iron salts, which
of these will be reduced...
asked 2 minutes ago -
It is hypothesized that when homing pigeons are disoriented in a
certain manner, they will exhibit...
asked 17 minutes ago -
Copyright protection legislation provides protection for
original works
Select one:
a. until the author is 70...
asked 8 minutes ago -
The boards of 2 major telecommunications companies
recently agreed to a $16 billion merger that would...
asked 7 minutes ago -
What types of evidence are used to reconstruct the history of
ocean chemistry, including changes in...
asked 23 minutes ago -
Describe the steps in Project Planning and Scheduling
WBS
Network Diagram
Developing the Schedule
Preparing the...
asked 17 minutes ago -
Assume you are now 21 years old and
will start working as soon as you graduate...
asked 32 minutes ago -
In c++
What does operator overloading allow us to do
?
Why must the << and...
asked 31 minutes ago -
First, a constant force will NOT cause an object to accelerate
faster and faster; it will...
asked 36 minutes ago -
A 4.75 kg crate is suspended from the end of a short vertical
rope of negligible...
asked 46 minutes ago -
develop an automated invoice generator that helps a shop owner
to design their invoice. Problem 1...
asked 54 minutes ago