Author Question: _______________ takes both binary and interval data and produces probabilities of an outcome, such ... (Read 57 times)

colton · **on:** Jun 29, 2018

_______________ takes both binary and interval data and produces probabilities of an outcome, such as purchase probabilities and market share projections, as functions of the marketing mix.
a. The weighted least squares model c. The Breusch-Pagan model
b. Logistic regression d. The discrete choice model

Question 2

Describe the purpose of surveys and the type of information that may be gathered in a survey.

Jordin Calloway · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

B
Logit models are very effective in producing probabilities of different outcomes.

Answer to Question 2

A survey is defined as a method of collecting primary data based on communication with a representative sample of individuals. The type of information gathered in a survey varies considerably depending on its objectives. Typically, surveys attempt to describe what is happening, what people believe, what they are like or to learn the reasons for a particular activity. More specifically, surveys gather information to assess consumer knowledge and awareness of products, brands, or issues and to measure consumer attitudes and feelings. Surveys can describe consumer characteristics including purchasing patterns, brand usage, and descriptive characteristics including demographics and lifestyle. Not all survey research is conducted with the ultimate consumer - some focus on wholesalers, retailers, or industrial buyers. Although most surveys are conducted to quantify certain factual information, some aspects of surveys may also be qualitative.