METHODOLOGICAL APPROACHES TO ANALYSIS OF CORRELATION RELATIONSHIPS BASED ON ECONOMIC STATISTICS

Clear economic activity management is one of the most essential aspects of any company's stable financial standing under contemporary conditions. Economic activity management at a company is impossible without an in-depth and detailed study of all the processes related to it. Analytics is of paramount importance for managing a company's settlement system. This article is devoted to analyzing of correlations/correlation relationships analysis methods based on economic statistics. The correlation analysis is used to measure the strength of a relationship between variables and to evaluate the factors that affect the result attribute the most, which distinguishes it from regression analysis used to select the relationship form, model type, to determine rated values of the result attribute. The regression and correlation analysis methods are used holistically. Pair correlation aimed at studying correlations of a factor attribute and a result attribute can be regarded as the most developed theoretically and used in practice. Such study is called single-factor correlation and regression analysis used as the basis for studying multi-factor stochastic relationships