Question: As a manager I am interested in finding out which factor most strongly correlates with my weekly sales. I am the product manager for Nutella,

As a manager I am interested in finding out which factor most strongly correlates with my weekly sales. I am the product manager for Nutella, a food supplement product. I think that the amount spent on advertising, the unit price and the number of people selling my product all influence my annual sales. But I only have limited resources and need to focus on the one most important factor. Run a correlation matrix and tell me which one I should focus on.
Also discuss what you learned from the other correlations.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!