General Motors (GM) Correlation Analysis
Assignment: Using General Motors (GM) company, explore its quality situation and determine a problem or issue that requires the use of correlation analysis. Explore this situation in depth and write a paper about it. This should be a different situation than the one you used for Module 2. Assignment Expectations: The Main Point of the paper is to explain why using correlation analysis is useful in this situation. Provide the background information about the situation, how you would collect the data for the variables and how you would determine the correlation statistics. Then make a case for the Main Point. Helpful Assignment information: The assigned reading is Business Statistics by Chikkodi, C.M. Satyaprasad, B.G., Ch 12, Correlation. This text is available on ebrary. Chikkodi, C.M. Satyaprasad, B.G, Business Statistics, Global Media, Mumbai, IND, 2010. Retrieved from http://site(dot)ebrary(dot)com/lib/tourou/docDetail.action?docID=10415686&p00=business%20statistics The topics discussed include Definition of correlation Types of correlation Methods of determing correlation How to compute correlation You may also watch a video to help understaning the concepts of correlation. It is called Correlation and Causality, available at http://www(dot)khanacademy(dot)org/video/correlation-and-causality?topic=statistics Download this Excel file (Sample Correlation Problems) that provides an example how to do correlation analysis in Excel.
Correlation Analysis
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Correlation Analysis
Being internationally recognized as one of the leading companies in the automobile industry across the world, General Motors is faced with different aspects of potential business risks in the industry. There are different ways and methods through which the company can get involved in different potential risks. Among the many reasons of carrying business is attaining the supply and acquiring extensive resources for widening the market and offering potential services to investors. The same is the reasons why any company can get involved in any business associated risks. Thus, the nature through which the company can gain into the market and observe the necessary support needed in joining mergers and other associations, (Gaughan, 2013). As a result, there is the risk of performance and doing the merger or supporting the company and other aspects of the business. Hence, it may result into a fall out situation or a loss in the market. Therefore, it is important and necessary to study various assumptions associated with the development and established with division of labor and merging with other companies.
For example, the potential problem is determining the risk and impacts of General Motors investing in a merger with Ford Corporation. Therefore, there is need of determining the necessary factors and providing the basis important in studying the risk and effects of the merger. Thus, the company should deploy the use of correlation analysis in determining the basis and foundation of the risk the company faces and incurs if there is a loss. Correlation analysis provides the accuracy needed in determining the effects between independent and dependent factors, (Gaughan, 2013). The potential of this study a...