rank the product attributes from most important to least important.
Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter7: Applying Fractions
Section7.1: Ratios
Problem 25WE
Related questions
Question
![Determine how various attributes impact the purchase of a car. There are four attributes, each with three levels.
• Brand: Ford = 0, Chrysler = 1, GM =2
• MPG: 15 MPG = 0, 20 MPG = 1, 25 MPG = 2
Horsepower (HP): 100 HP = 0, 150 HP = 1, 200 HP = 2
• Price: $18,000 = 0, $21,000 = 1, $24,000 = 2
The nine product profiles ranked below were evaluated by a consumer: (note - the table should be reproduced using the dummy variables)
|(F, C, GM)
|(15, 20, 25)
|(100,150, 200) (18000, 21000, 24000)
Trial
Brand
MPG
Power
Price
Rank
4
2
1
1
2
7
2
1.
3
4
1.
1.
1.
2
1
9.
7
2.
2
8
8.
2
1
5
9
1
1
Q27. For this market segment, rank the product attributes from most important to least important.
Price > MPG = HP > Brand
O Price > MPG > HP > Brand
O MPG = Price > HP > Brand
MPG > HP > Price > Brand
2.
1.
2.
56](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F82822d36-839b-45cb-aa91-8fb7951a387e%2F972b7cb5-bfb1-4a0e-9490-56051e87714e%2Firil8xf_processed.png&w=3840&q=75)
Transcribed Image Text:Determine how various attributes impact the purchase of a car. There are four attributes, each with three levels.
• Brand: Ford = 0, Chrysler = 1, GM =2
• MPG: 15 MPG = 0, 20 MPG = 1, 25 MPG = 2
Horsepower (HP): 100 HP = 0, 150 HP = 1, 200 HP = 2
• Price: $18,000 = 0, $21,000 = 1, $24,000 = 2
The nine product profiles ranked below were evaluated by a consumer: (note - the table should be reproduced using the dummy variables)
|(F, C, GM)
|(15, 20, 25)
|(100,150, 200) (18000, 21000, 24000)
Trial
Brand
MPG
Power
Price
Rank
4
2
1
1
2
7
2
1.
3
4
1.
1.
1.
2
1
9.
7
2.
2
8
8.
2
1
5
9
1
1
Q27. For this market segment, rank the product attributes from most important to least important.
Price > MPG = HP > Brand
O Price > MPG > HP > Brand
O MPG = Price > HP > Brand
MPG > HP > Price > Brand
2.
1.
2.
56
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