Marketing research Quiz 3 Part 3

Univariate analysis

analyzes each variable separately

Bivariate Analysis

analyzes the relationship between 2 variables

Multivariate Analysis

analyzes multiple measurements on each object or person at the same

Independent variable

The independent variable is the variable believed to affect the dependent variable.

Dependent variable

The dependent variable is the outcome being explained or caused. The slides label dependent variable as Y and independent variable as X.

what is regression used for

Regression is used to create an equation showing the influence of one or more independent variables on a continuous dependent variable.

regression main purposes

to predict the value of the dependent variable

to identify which predictors significantly affect the dependent variable

to measure how much variation in the dependent variable is explained by the predictors using R²

how to read regression output

Check the ANOVA table to see if the overall model is statistically significant.

Check R² to see how much variation in the dependent variable is explained.

Check the t-values and p-values for each predictor to see which independent variables are significant.

Look at the sign of the coefficient to determine the direction of the relationship.

What does correlation analysis measure?

The degree to which changes in one variable are associated with changes in another.

What is Pearson's r?

A statistic that ranges from -1 to +1, indicating the strength of the relationship between two variables.

What does a Pearson's r value closer to -1 or +1 indicate?

A stronger relationship between the two variables.

What is cluster analysis?

Cluster analysis groups people or objects into subgroups that are similar to each other.

What is the goal of cluster analysis regarding the groups formed?

The groups should be homogeneous within clusters and different across clusters.

Does cluster analysis involve a dependent variable?

No, there is no dependent variable in cluster analysis.

What is factor analysis?

Factor analysis simplifies data by reducing many metric variables into a smaller number of summary factors.

Does factor analysis have a dependent variable?

No, there is no dependent variable in factor analysis.

What do factor loadings represent in factor analysis?

Factor loadings show the correlation between each factor and the original variables.

Who determines the names of the factors in factor analysis?

The researcher uses judgment to name the factors.

What does conjoint analysis measure?

The value consumers place on different product or service features.

How does conjoint analysis work?

By having respondents make tradeoffs, which indirectly reveals attribute importance.

What should be randomized in conjoint analysis?

The presentation of options.

What should be avoided in conjoint analysis?

Having too many attributes.