Question: Factor analysis and cluster analysis are complementary techniques because of all of the following reasons EXCEPT: a . Factor analysis investigates customers' early reactions to

Factor analysis and cluster analysis are complementary techniques because of all of the following reasons EXCEPT:
a. Factor analysis investigates customers' early reactions to corporate ideas (e.g., new product concepts, new advertising approaches).
b. A cluster analysis can group customers into segments.
c. A cluster analysis uses a smaller set of factors, not the larger set of raw variables.
d. A factor analysis can be used first to group variables into factors.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!