Discuss the steps in regression analysis when a researcher's goal is to explain.
Question 2Facts or recorded measures of certain phenomena (things or events) are known as ____.
a. data
b. information
c. market intelligence
d. knowledge
Question 3ABC Products, Inc wants to kick-off an ethnographic study to learn more about how its customers use and interact with its best-selling product. Ethnographies involve
a. focus groups.
b. trade-off evaluations.
c. a mix of observation and interviews.
d. impressions.
Question 4Discuss the pros and cons of raw regression estimates and standardized regression estimates and explain when each is appropriate.
Question 5A search-engine optimizer mines data from in-store point-of-sale data recordings.
Indicate whether the statement is true or false
Question 6Sam's Sandwich Shack recently conducted two focus groups, each with 6 customers and a moderator. Sam believes he gathered enough feedback from these focus groups to revamp his menu and to initiate some changes to the level of service provided by his staff. What would you recommend to Sam?
a. Predicting how the marketplace will respond based on focus groups is not a great idea.
b. Focus groups are a great predictor of how the marketplace will respond.
c. He should conduct more customer focus groups, and then base his decisions on the focus group discussions.
d. Focus groups are a waste of time, and provide little value.
Question 7Explain what an acceptable R2 value is.
Question 8UPC refers to bar-coded information containing product information that can be read by optical scanners.
Indicate whether the statement is true or false
Question 9What is NOT a job of a focus group moderator?
a. screen focus group members
b. keep the discussion going
c. address all items on client's list
d. bring out the quieter group members
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