Exam 18: Multivariate Data Analysis

An advertising agency has been doing work for a client selling widgets.The three-month campaign has produced a low correlation between advertising expenditures and sales for its client.Hence,the client is considering firing the ad agency.The ad agency counters that consumer sales are not a fair assessment of the effectiveness of the ad campaign after only three months.They counter with an analysis of advertising expenditures in relation to number of requests for information about the widgets; number of distributors stocking widgets; and number of retailers requesting shipments of widgets.The ad agency has a database with such information.What kind of analysis would best assist the ad agency in making their case for the effectiveness of their ad campaign?

Which of the following techniques might be most useful in helping a restaurant determine how to position itself in the marketplace?

A dependent variable is coded 1=respondent did purchase and 0=respondent did not purchase.Independent variables include various demographic and lifestyle characteristics of the respondents.The goal of the analysis is to determine how respondents who did purchase are different from respondents who did not purchase.Which of the following procedures goes with the preceding description?

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

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

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

Multiple regression analysis can group respondents into subgroups when there are at least 4 classification variables.

What is multivariate analysis?

This analytical technique helps determine what features a new product or service should have and how it should be priced.

One of the most common approaches to conducting conjoint analysis is the use of a discrete choice.

In multiple regression analysis the dependent variable is nominal or categorical.

Multiple regression enables the researcher to show that two variables are causally related.

Describe the potential problem of collinearity and multiple regression.How might a researcher test for collinearity? If collinearity is a problem,what should the researcher do?

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

The independent variables in multiple regression should not be correlated with each other.

If a company was interested in the impact that advertising and sales price had on sales,cluster analysis would be an appropriate tool to use.

Suppose a marketer was trying to predict the sales (Y)of a product for a given level of advertising (X₁)and sales performance (X₂).The resulting output was as follows: Y = 2,300 + 34(X₁)+ 15.5(X₂)with a R² = .12 Given the above results,what would you suggest to the marketer?

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

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

An adjusted R ² corrects the coefficient of determination based on the relationship between the number of predictor variables and which of the following?