Chapter 5 Flashcards
Analysis of variance
Variability around an average
Averages that differ beyond expected variability
Regression analysis
Relationship between a dependent variable and one or more independent or predictor variables
Factor analysis
Data reduction techniques
Identify highly correlated variables, group into factors
Cluster analysis
Classifies objects or people into groups based on similarities
Divide markets into segments
Discriminant analysis
Ability of predictor variable to discriminate between categories
Generate perceptual maps depicting brands
MaxDiff analysis
Measures most/least important or most/least appealing
Determine choice preferences
Conjoint analysis
Estimates the value of component attributes given tradeoffs
Develop new products and identify pricing alternatives
Cross Tabs
Frequency counts
Conditions, attitudes, and/or behaviors that occur most often
