Exam 14: More Powerful Statistical Methods

Given the Correlation Matrix below, answer questions Assume that respondents answered the questions with ratio scale responses. -How many pairs of responses were in this correlation analysis? ________

Regression analysis can prove causation.

If the goal of an analysis is to group respondents into mutually exclusive and collectively exhaustive subgroups, the preferred procedure would be cluster analysis.

Ordinal data cannot be analyzed using regression analysis.

The R² statistic ranges from -1 to 1.

All of the following are statistical procedures except_______________.

This procedure is useful for analyzing the relationship among two or more predictor/independent variables and one criterion/dependent variable.

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

An R² of 0 indicates no relationship between variables.

Bivariate regression can not demonstrate:

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

In correlation analysis, the closer the value of R is to -1 or +1, the stronger the correlation between the two variables in question.

A car dealership has been working to increase the number of corporate clients leasing vehicles from them. Their three-month campaign hasn't produced a high correlation between the costs of their marketing versus the number of leases. The manager is uncertain whether it's a bad venture or the result of a poor sales effort. His marketing manager points out that they have a database of information including leads, call backs, number of requests for leasing options and a list of new clients in addition to previous corporate clients all broken down by the sales lead. What kind of analysis would best assist the manager in making a final decision about the marketing efforts?

The actual data mining process includes:

An analyst will always prefer that the R² be close to zero.

In regression analysis, the value of R² is influenced by the number of predictor variables relative to sample size.

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?

An R² of .05 would indicate:

There is no dependent variable in a factor analysis.

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