Excel Formulas and Functions for Dummies by Ken Bluttman & Peter G. Aitken

Author:Ken Bluttman & Peter G. Aitken [Bluttman, Ken & Aitken, Peter G.]
Language: eng
Format: epub
Tags: Desktop Applications, Computers, Spreadsheets
ISBN: 9780470768419
Google: elP7KQd8gCcC
Amazon: 047056816X
Publisher: For Dummies
Published: 2010-04-06T09:17:17+00:00

All three returned correlation values fall within the range of 0 to 1 and, therefore, are easy to compare with each other. The evidence is clear — direct mail is not as efficient as magazine or radio advertising. Both the magazine and radio advertising score high; the returned values are close to 1. However, direct mail returns a correlation of 0.4472. A positive correlation does exist —

that is, direct-mail expenditures create an increase in customer responsiveness. But the correlation is not as strong as magazine or radio advertising.

The money spent on direct mail would be better spent elsewhere.

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Chapter 9: Throwing Statistics a Curve

183

Here’s how to use the CORREL function:

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