What are some of the distinct purposes discriminant
analysis is used for in marketing research applications?...
80.2K
Verified Solution
Link Copied!
Question
Basic Math
What are some of the distinct purposes discriminantanalysis is used for in marketing research applications? How mightyou use DA as a follow-up method after a cluster analysis is run,specifically, if one has a variety of data on consumer responses /opinions, as well as geodemographic data?
Answer & Explanation
Solved by verified expert
3.7 Ratings (465 Votes)
ANSWER Distinct purposes In showcasing research we are frequently looked with a circumstance in which we have at least two gatherings purchasers nonbuyers age companions and so on or things brands firms ideas and so on and we need to pick up a superior comprehension of how these gatherings or things vary as far as some arrangement of illustrative free metric factors for example an arrangement of quality or execution evaluations that we accept to be equivalent interim Note that a few analysts acknowledge the utilization of 01 dichotomous factors in the free set however here we limit the dialog to interim level factors On the off chance that the goal of the examination is to see how the gatherings or things vary we could direct a restricted investigation of difference ANOVA on every autonomous variable for example a brand quality rating scale over the gathering mark implies However as a rule in viable promoting research the autonomous factorsthose brandrating scalesare associated to some degree In this manner there is a particular plausibility that a progression of oneway ANOVAs will demonstrate that a considerable lot of the free factors have gathering mark implies that are essentially unique when in actuality just a single or two nonredundant ones do Also if there is an extensive number of free factors we may see contrasts between gatherings by chance alone where there truly are none in view of the collection of Type I mistake Discriminant Analysis Discriminant function analysis addresses this issue extremely well In DFA the intercorrelation of
See Answer
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
