QUESTION 3 The research team has used company data to develop the following corr

Question

QUESTION 3

The research team has used company data to develop the following correlation matrix.

Table 1: Correlation Analysis

Employee Absences

Length of Service

Monthly Salary

Employee Severance

Employee Absences

1

Length of Service

0.56

1

Monthly Salary

0.02

0.17

1

Employee Severance

-0.75

0.43

0.82

1

Q3. Evaluate the relationship between the key variables.

Table 1: Correlation Analysis

Employee Absences

Length of Service

Monthly Salary

Employee Severance

Employee Absences

1

Length of Service

0.56

1

Monthly Salary

0.02

0.17

1

Employee Severance

-0.75

0.43

0.82

1

Explanation / Answer

Here the correlation coefficient is 0.56 which means that there is a moderate positive relationship between the two variables. As Employee Absences value increases, the value of Length of Service also increases and visa versa.

Here as the correlation is 0.02 very close to 0, therefore there is no relationship between the two variables.

Here as the correlation is -0.75 , therefore there is a negative relationship between the two variables. As Employee Absences value increases, the value of Length of Service also decreases and visa versa.

Here as the correlation is 0.17 very close to 0, therefore there is a very weak positive relationship between the two variables.

Here the correlation coefficient is 0.56 which means that there is a moderate positive relationship between the two variables. As Length of Service value increases, the value of Employee Severance also increases and visa versa.

Here the correlation coefficient is 0.82 which means that there is a strong positive relationship between the two variables. As Monthly Salary value increases, the value of Employee Severance also increases and visa versa.

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