Variable Correlation – Marketing Research Quiz 10
The key terms of Marketing Research include Variable Correlation.
If there is no relationship between two variables, the correlation coefficient between them would be:
Zero – correct
Below are the correlation results for visits, items purchased, and distance. Which two variables have the strongest correlation?
- Describe the relationship between distance from the store and number of visits.
Visits and distance
Distance and items_purchased
Vists and items_purchased – correct
The Brown Cow wants to know the relationship between extreme summer weather (in degrees Fahrenheit) and daily ice cream sales (in dollars). They bring you in to help them interpret a regression estimating ice cream sales as a function of temperature.
The results are below. Write out the regression equation to make the production below:
Predict sales if temperature is 70 degrees
- Dependent Variable: sales
$780.02 – correct
GTECH has hired a marketing research firm to find out whether two psychographic segments respond differently to a new lottery game. They categorize their customers into groups: optimistic and pessimistic.
The market research firm sends out a survey to a sample of consumers in each segment and asked them to rate their likelihood of buying the ticket on a scale of 1 (very unlikely) – 7 (very likely).
The results are below.
Is there a significant difference between the groups?
Yes – correct
In the regression equation, Y = b 0 + b X, Y is the:
Dependent variabl.- correct
When the correlation between two variables is -.67, this means that as one variable ______, the other variable
None of the above
Increases; decreases – correct
The correlation coefficient ranges between:
-1.0 and zero
Zero and +1.0
-2.0 and +2.0
-1.0 and +1.0 – correct
Choose “True” for this answer
Ture – correct
When the on-time performance of airlines is used to predict the number of customer complaints in a regression equation, on-time performance is the ______ variable and the number of customer complaints is the ______ variable.
Independent; dependent – correct