Which type of analysis is used to understand the attributes that guide preferences by having consumers compare products across levels of evaluative criteria and the expected utility associated with the alternatives?
A) cluster
B) conjoint
C) regression
D) factor

Question

Quizplus · Accepted Answer

Conjoint analysis is used to understand the attributes that guide preferences by having consumers compare products across levels of evaluative criteria and the expected utility associated with the alternatives. Cluster analysis is used to group data points into clusters based on similarity, regression analysis is used to analyze the relationship between variables, and factor analysis is used to identify underlying factors that may be responsible for observed patterns in the data.

Which Type of Analysis Is Used to Understand the Attributes