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The correlation coefficient is a statistic that measures the strength of the relationship between two numerical variables. When businesses understand the relationship between variables (think demographic information from Marketing, or sales data), decision-makers can use their understanding of the strength of that relationship to allocate resources effectively. If you sell music, and you know that Bob likes music, but Fred does not, you can spend more marketing dollars trying to sell your music to Bob, and less money trying to interest Fred.

According to a study at BYU, books that were given away free online saw average sales of $1081. Books that were not given away free averaged only $989 in sales. From this data, it seems there is a correlation between giving the book away online, and increased sales.

If you use the Internet, you already use correlation and correlation uses you! Many of the sites we visit or programs we use rely on correlation to offer choices. Google uses correlation algorithms to offer you what it thinks you're looking for. When Amazon makes suggestions, it uses correlation data from other people who have been interested in those similar items.

Visit a consumer site or a music site and look for something you're interested in. Did it offer a suggestion for something else you might also like? If it did not, try a different site. If it did, was the offering something that you'd be interested in? How do you think it correlates to what you originally searched for?

                                                Examples:

Pandora- uses correlation to suggest music you might like

Amazon- suggests additional purchases

Netflix- suggests movies you might be interested in

IMDb- Relates News and Videos

Facebook- places ads that may be of interest to you

Monster- suggests jobs you may want to check out

ANSWER THE FOLLOWING QUESTIONS;

1. List the site you selected

2. What did you search for?

3. What was offered?

4. Describe how the two are correlated and whether or not you think it was a good offering (the two products are related).

5. How is correlation used in your company or a company you would like to work for?

Initial post must be a minimum of three paragraphs (at least five sentences each).