1) Investigate the differences between Pearson correlation and Spearman correlation.

Lesson 8 Individually complete the following. 1) Investigate the differences between Pearson correlation and Spearman correlation. Include in your investigation the levels of strength of association (no relationship, weak relationship, moderate relationship, strong relationship). 2) Develop a scatter diagram (see Chapter 12 for examples), a graphic plot of the relative position of two variables using a horizontal and a vertical axis to represent the values of the respective values. 3) Plot your data collection in the scatter diagram to visually demonstrate the possible relationships in your data. 4) Submit your scatter diagram to Moodle. Requirements: Use and include information from the weekly course content and outside sources to support the conclusions contained in the paper. Be cognizant of spelling, punctuation, and grammar. All sources should be cited in proper APA format (in-text citations and a reference list). Individually complete the following. 1) Communicating research findings is the sine qua non for the success of your marketing research project. If the results of the research are not effectively communicated to the client, the project is not a success, no matter how well designed and conducted. Investigate how to communicate your marketing research findings. Start by reading Chapter 13. 2) Reflect on the objectives of your marketing research project and how do you plan to give a detailed description of your research objectives, research questions, literature review and relevant secondary data, and description of the research methods. Also reflect on how you are planning to display your findings and present your interpretation and summary of findings and recommendations. 3) Refine your project outline which will serve as the table of contents for your marketing research report (the initial draft outline was developed in Module 5). Please refer to Chapter 13 for a sample table of contents. 4) Submit your table of contents to Moodle in Word format. Requirements: 12-point Times New Roman; double spaced; and page numbering. Please be sure to answer the entire question to receive maximum credit for this assignment. Use and include information from the weekly course content and outside sources to support the conclusions contained in the paper. Be cognizant of spelling, punctuation, and grammar. All sources should be cited in proper APA format (in-text citations and a reference list).

SAMPLE SOLUTION

1. How does the demand curve faced by a perfectly competitive firm differ from the market demand curve in a perfectly competitive market? Explain.
   In a perfectly competitive firm, the demand curve is a straight horizontal line, different from that of a perfectly competitive market which slopes downwards. This implies that the demand for the goods offered by the firm is perfectly elastic. Since the market has many firms offering homogenous products, the firm would not risk raising the price of its product because customers would shift to competitors (Mankiw, 2020). The firm can only sell all the output it desires at the prevailing market price (equilibrium price).
2. How does the profit maximization condition for a monopoly differ from that for a perfectly competitive firm? How does this difference impact efficiency under each market structure? Explain.
   For a monopoly firm, profit maximization occurs when the marginal cost equals the marginal revenue. On the other hand, for a perfectly competitive firm, profit…