What type of analysis involves businesses classifying people, products, or other tangible items into several categories?
(1 point)
Responses
discriminant analysis
discriminant analysis
conjoint analysis
conjoint analysis
factor analysis
factor analysis
bias analysis
The type of analysis that involves businesses classifying people, products, or other tangible items into several categories is discriminant analysis.
The type of analysis that involves businesses classifying people, products, or other tangible items into several categories is called discriminant analysis. Discriminant analysis is a statistical technique used to infer relationships between a dependent variable and a set of independent variables. It is commonly used in market research and business analysis to classify consumers, products, or other entities into distinct groups or categories based on various characteristics or factors.
To find this answer, you could have consulted a reference book on statistics or business analysis, or searched online for information about different types of data analysis techniques commonly used in business.