Correlation and Extrapolation

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4 Terms

1
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Correlation

Occurs when there is a relationship or link between two factors

2
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Correlation

Seasonal

Pricing Strategy

Market Spending

Competitors

Marketing Spend

Customer Service

3
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Types of correlation

Positive Correlation

Negative Correlation

Strong Positive Correlation

Weak Correlation

4
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Extrapolation

The process of using previous market trends to predict future market trends

Step 1: Plot sales figures

Step 2: Draw line of best fit

Step 3: Prolong the line