Betty is a market researcher who wants to find out the factors that are most attractive to customers and do so in a way that simplifies the data to just a few variables or factors. What type of analysis should she use?

Question

Betty is a market researcher who wants to find out the factors that are most attractive to customers and do so in a way that simplifies the data to just a few variables or factors. What type of analysis should she use?

(1 point)
Responses

factor analysis

factor analysis

discriminant analysis

discriminant analysis

conjoint analysis

conjoint analysis

bias analysis

Answer 1

Factor analysis is the most appropriate type of analysis for Betty to use in order to simplify the data and identify the most attractive factors to customers.

Answer 2

Betty should use factor analysis to identify the factors that are most attractive to customers and simplify the data to just a few variables or factors. Factor analysis is a statistical technique used to determine the underlying structure of a set of variables and group them into a smaller number of factors. By applying factor analysis, Betty can identify the common factors that drive customer preferences and simplify the data to focus on those key factors.

Answer 3

Betty is a market researcher who wants to find out the factors that are most attractive to customers and do so in a way that simplifies the data to just a few variables or factors. What type of analysis should she use?

Factor analysis is the most appropriate type of analysis for Betty to use in order to simplify the data and identify the most attractive factors to customers.

Betty should use factor analysis.