CORRELATION STUDY SCRIPT
CORRELATION STUDY SCRIPT
CORRELATION STUDY SCRIPT
Definition: Correlational research investigates the relationship between two or more variables.
Purpose: Helps understand how variables interact in fields like auditing and finance, guiding
decision-making.
Slide 3: Meaning
Types of Correlation:
Statistical Tools: Commonly used tools include Pearson’s r and Spearman’s rho.
Informed Decisions: Guide strategic planning and policy adjustments based on relationships
found.
Slide 6: Requisites
Measurement Tools: Use reliable and valid instruments for data collection.
Steps:
Sample Bias: Results may not generalize beyond the studied sample.
Example 1: Investigate the correlation between audit quality and client satisfaction.
Example 2: Analyze the relationship between financial literacy and investment choices.
Data Collection: Evaluate audit quality and gather client satisfaction feedback.
Findings: A positive correlation suggests higher audit quality enhances client satisfaction.
Data Collection: Use tests to measure literacy and track investment success.
Findings: Strong correlation between higher financial literacy and better investment outcomes.
Include: A list of academic articles, books, and credible sources that support your research.
Thank You: Acknowledge any individuals or organizations that assisted in your research or
presentation.
Engagement: Invite questions and discussions from the audience for clarification and deeper
understanding.
Further Reading: Suggest resources and literature for those interested in expanding their
knowledge of correlational research in finance and auditing.
Slide 2: Introduction
Slide 3: Meaning
Key Terms:
Correlation Coefficient: A numerical value indicating the strength and direction of the
relationship.
Types of Correlation:
Identify relationships between financial performance indicators (e.g., revenue growth vs.
marketing spending).
Slide 6: Requisites
Application Steps:
Slide 8: Limitations
Data Collection Methods: Assess audit quality through evaluations and client feedback.
Findings: Positive correlation indicates higher audit quality leads to greater client satisfaction.
Data Collection Methods: Use financial literacy assessments and track investment performance.
Findings: A strong correlation found between high financial literacy and successful investment
outcomes.
Correlational research provides valuable insights into relationships in auditing, accounting, and
finance.
Future research should explore causal relationships and enhance predictive models.
1. Identify Relationships: It helps determine whether and how strongly variables are connected
(e.g., income and education level).
2. Predict Outcomes: By finding correlations, researchers can make predictions (e.g., SAT scores
predicting college success).
3. Guide Experimental Research: Correlations suggest areas for further experimental testing to
explore causation.
4. Study Naturally Occurring Variables: It’s useful when variables cannot be ethically or practically
manipulated (e.g., studying the link between smoking and lung disease).
5. Analyze Large Data Sets: Correlational methods are often applied in social sciences, health
studies, and market research for pattern recognition within big data.