Marketing Research Final Test 3 Ch. 17 Set 1

Front 1

In what situations is product moment correlation used?

Back 1

When summarizing the strength of assoaction between two metric variables such as, how strongly are sales related to advertising expenditures, is there an association between market share and size of the sales force?, are consumers perceptions of quality related to their perceptions of prices

Front 2

an index used to determine whether a lienar, or straight-line relationship exists between x and y and idicates the degree to which the variation in one variable, x, is related to variation in another variable.

Back 2

product moment correlation

Front 3

measures the assocaitions between two variables after controlling for or adjusting for the effects of one or more additional variables.

Back 3

partial correlation coefficient

Front 4

partial correlation coefficient is used to answer these questions.

Back 4

how strongly are sales related to advertising expenditures when the effect of price is controlled, is there an association between market share and size of the sales force after adjusting for the effect of sales promotions, are consumers perceptions of quality related to their perceptions of prices when the effect of brand image is controlled?

Front 5

stepwise regression and multiple regression are complicated by the presence of

Back 5

multi collinearity

Front 6

arises when intercorrelations among the predictors are very high

Back 6

multi collienearity

Front 7

what are some problems with multicollinearity

Back 7

the partial regression coeeficients may not be estimated precisely. standard errors are likely to be high, the magnitudes as well as the signs of the partial regression coefficients may change fromm sample to sample, it beomes difficult to assess the relative importance of the independent variables in explaning the variation in the dependent variable, predictor variables may be in correctly included or removed in stepwise regression.

Front 8

when -------- is present, special care is required in assessing the relative importance of independent variables

Back 8

multicollinearity

Front 9

in applied marketing research, it is valuable to determin the

Back 9

relative importance of the predictors

Front 10

another problem that occurs when two or more of the independent variables are highly correlated with one another. Can result in improper signs for slope coefficients and significance testing problems.

Back 10

multicollinearity

Front 11

the order in which the predictors enter or are removed from the regression equation is used to infer their relative importance

Back 11

stepwise regression

Front 12

the purpose of ---------------- is to select from a large number of predictor variables, a small subset of variables that account for most of the variation in the dependent or criterion variable

Back 12

stepwise regressions

Front 13

what are the approaches to stepwise regression?

Back 13

forward inclusion, backward elimination, stepwise solution.

Front 14

One should be careful about using a regression model to make predictions for independent variable values that are far outside the range of such values used to establish the regression equations.

Back 14

range of predictors