Conjoint Analysis
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Questions and Answers

What type of regression model is selected for analyzing the results in the text?

  • Logistic Regression
  • Polynomial Regression
  • Simple Regression (correct)
  • Multiple Regression
  • In the context of the text, what does the response variable represent?

  • Residuals
  • Rating (correct)
  • Predictors
  • Coefficients
  • What do the dummy variables C4 to C11 represent in the text?

  • Textures
  • Flavors
  • Predictors (correct)
  • Price
  • What is the purpose of having dummy variables X1 and X2 representing Flavour in the text?

    <p>To account for Flavour differences</p> Signup and view all the answers

    What is the estimated value of parameter b0 in the Basic Regression Model in the text?

    <p>4.222</p> Signup and view all the answers

    Based on the given parameters, what is the purpose of having dummy variables X3 and X4 representing Texture?

    <p>To account for Texture differences</p> Signup and view all the answers

    What does the basic model in conjoint analysis calculate?

    <p>Overall utility of an alternative</p> Signup and view all the answers

    In the basic model of conjoint analysis, what does αij represent?

    <p>Partworth utilities contribution associated with the jth level of the ith attribute</p> Signup and view all the answers

    How are partworth utilities referred to in conjoint analysis?

    <p>Attribute importance scores</p> Signup and view all the answers

    In the basic regression model of conjoint analysis, what does the dummy variable represent?

    <p>Difference in part-worth for a level compared to the baseline level</p> Signup and view all the answers

    What does Σ partworth utilities (α) = 0 indicate in conjoint analysis?

    <p>Balance of part-worth utilities across attributes and levels</p> Signup and view all the answers

    In the context of the basic model for Conjoint Analysis, what do X1 and X2 dummy variables represent?

    <p>Flavour</p> Signup and view all the answers

    What is the purpose of creating dummy variables in regression analysis?

    <p>To handle categorical data</p> Signup and view all the answers

    How many product profiles were evaluated in the jam example provided?

    <p>9</p> Signup and view all the answers

    Which attribute levels were coded as 0 and 1 for Texture in the Conjoint Analysis basic model?

    <p>2 and 3</p> Signup and view all the answers

    What is the purpose of creating a design matrix in analysis?

    <p>To transform categorical data into numerical form</p> Signup and view all the answers

    What do the dummy variables X5 and X6 represent in the full factorial design discussed?

    <p>Price</p> Signup and view all the answers

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