MKTG 342 ch18 Questions

The purpose of factor analysis can be best described as:

A) data simplification by summarizing the information contained in a large number of variables into summary measures. B) assessing the degree of correlation of a group of categorical measures. C) assessing the significance of group differences across many metric dependent variables simultaneously. D) presenting the relationship between multiple categorical measures in a low-dimensional diagram. Correct answer(s): A

Which of the following would not be an application best suited for multiple regression analysis?

A) estimating the effect of several marketing mix variables on product sales B) estimating the relationship between various demographic and lifestyle variables and the attitude toward a particular product C) determining which variables best predict the sales of a particular product or service D) reducing a large number of potential predictor variables to a smaller set of composite variables Correct answer(s): D

An insurance company wants to know whether the subscribers to its HMO, PPO, or traditional single indemnity plan exhibit better health characteristics. They have the following data for each of their subscribers: % of body weight over optimum weight; blood pressure; cholesterol and hours per week of exercise. The analysis will group subscribers as either healthy, somewhat healthy or not healthy. Which of the following would be the best procedure for making such a determination?

A) factor analysis B) multiple discriminant analysis C) cluster analysis D) multiple regression analysis Correct answer(s): C

Independent variables are important components in multiple regression analysis and ________________.

A) factor analysis B) multiple discriminant analysis C) conjoint analysis D) cluster analysis Correct answer(s): B

Cluster analysis produces mutually exclusive and exhaustive groups such that the individuals or objects grouped are ______________ within and ______________ between groups.

A) homogeneous; homogeneous B) heterogeneous; homogeneous C) heterogeneous; heterogeneous D) homogeneous; heterogeneous Correct answer(s): D

Summarizing a number of survey questions into a single concept could be achieved with which type of analysis?

A) multiple discriminant analysis B) multiple regression analysis C) cluster analysis D) factor analysis Correct answer(s): D

Which of the following techniques is often used for concept testing of new products?

A) multiple regression analysis B) cluster analysis C) perceptual mapping D) conjoint analysis Correct answer(s): D

Which of the following is multiple discriminant analysis most similar to?

A) multiple regression analysis B) factor analysis C) cluster analysis D) conjoint analysis Correct answer(s): A

Which of the following multivariate procedures does not include a dependent variable in its analysis?

A) multiple regression analysis B) multiple discriminant analysis C) cluster analysis D) All of these procedures include a dependent variable. Correct answer(s): C

If a product manager wanted to see how his company's products are rated by consumers against competing products across several dimensions, the best procedure would be:

A) multiple regression analysis. B) conjoint analysis. C) perceptual mapping. D) cluster analysis. Correct answer(s): C

What is multivariate analysis?

A) the measurement procedure for monitoring how several marketing variables function in multiple market situations. B) a group of statistical procedures used to analyze simultaneously multiple measurements of the individual or object being measured. C) a procedure for managing large database systems. D) synonymous with decision support analysis. Correct answer(s): B

In the multiple regression formula, which of the following represents the dependent variable?

A) X1 B) b1 C) Y D) a Correct answer(s): C

Which of the following is not a step in conjoint analysis?

A) collecting trade-off data B) predicting consumers' choice C) estimating factor loadings D) estimating preference structures Correct answer(s): C

Cluster analysis is particularly valuable for what type of marketing strategy?

A) cost leadership B) segmentation C) product differentiation D) positioning Correct answer(s): B

If the goal is to classify business travelers into distinct groups based on their responses to 20 questions on preferences to mode of transportation, hotel accommodation, and ethnic food, which of the following techniques would be most appropriate?

A) cluster analysis B) conjoint analysis C) factor analysis D) multiple regression analysis Correct answer(s): A

A company that is trying to determine which "3" distinct target markets to focus its marketing efforts on might use which statistical tool?

A) ANOVA B) cluster analysis C) bivariate regression D) multiple regression analysis Correct answer(s): B

Which of the following is not an example of a cluster technique?

A) BIRCH B) All of these are examples C) Decision trees D) Nearest neighbor E) K-means Correct answer(s): B

In the case of multiple regression analysis, the dependent variable must be ___________; in multiple discriminant analysis, the dependent variable is__________ in nature.

A) Categorical; nonmetric B) Metric; nonmetric C) Nominal; categorical D) Metric; nominal Correct answer(s): D

Hadoop, an open-source platform, is most closely related to which of the following?

A) Factor Analysis B) Conjoint Analysis C) Cluster Analysis D) Multiple Discriminant Analysis E) Big Data Correct answer(s): E

Which of the following is not a part of using predictive analysis?

A) Pre-processing B) Validating Results C) Acquiring a Data Set D) All of these are a part E) Modeling Correct answer(s): D