Variable Correlation – Marketing Research Quiz 10

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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:

-1.0

+1.0

100

Zero – correct


Below are the correlation results for visits, items purchased, and distance. Which two variables have the strongest correlation? 

Variable Correlation - Marketing Research Quiz 10
  1. 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

Variable Correlation - Marketing Research Quiz 10
  1. Dependent Variable: sales

$1873.36

$780.02 – correct

$54.66

$6,873.35


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?

Variable Correlation - Marketing Research Quiz 10

Yes – correct

No


In the regression equation, Y = 0 + XY is the:

independent variable.

Dependent variabl.- correct

y-intercept.

Slope.


When the correlation between two variables is -.67, this means that as one variable ______, the other variable

None of the above

Increases; decreases – correct

Decreases; decreases

Increases; increases


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

False


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; independent

Dependent; dependent

Independent; dependent – correct

Dependent; independent


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