ABSTRACT
Statistical techniques are used to determine whether there is a statistically significant association or link between the variables. There are four basic concepts one need to understand about relationships between variables: presence, nature of the relationship, direction, and strength of association. Correlation and regression are associative techniques that help people to determine if there is a consistent and systematic relationship between two or more variables. Business researchers often want to know whether two or more variables are linked. Variables are linked if they exhibit covariation. The correlation coefficient is used to assess this link. The correlation coefficient is a standardized measure of covariation that is used to assess the degree of covariation between two variables. Correlation tells people if a relationship exists between two variables, as well as the overall strength of the relationship. Regression analysis is perhaps the most widely applied data analysis technique for measuring linear relationships between two or more variables.
