Question
A credit card company is considering offering credit cards to college students. To understand students preference for credit card terms, it conducts the following conjoint
A credit card company is considering offering credit cards to college students. To understand students preference for credit card terms, it conducts the following conjoint study. A credit card offering is viewed as a bundle of attributes:
Interest rate (APR): 15%, 20%
Credit limit: $1,000, $2,000
Reward type: cash, points
Reward %: 1%, 2%
Please download the data set credit card data_HW.sav and conduct conjoint analysis.
(1) Present the regression output and write down the regression equation. (1 point)
(2) What is the relative importance of each attribute? (2 points)
\begin{tabular}{|c|c|c|c|c|c|} \hline Profile & InterestRate & CreditLimit & \begin{tabular}{c} Rewa \\ pe \end{tabular} & 8 Reward & Rating \\ \hline 1 & .20 & 2000 & points & .02 & 9 \\ \hline 2 & .15 & 1000 & cash & .01 & 3 \\ \hline 3 & .15 & 2000 & cash & .02 & 10 \\ \hline 4 & .15 & 1000 & points & .01 & 2 \\ \hline 5 & .20 & 2000 & cash & .01 & 5 \\ \hline 6 & .20 & 1000 & points & .01 & 0 \\ \hline 7 & .15 & 1000 & points & .02 & 8 \\ \hline 8 & .20 & 1000 & cash & .02 & 10 \\ \hline 9 & .15 & 2000 & points & .02 & 10 \\ \hline 10 & .15 & 2000 & points & .01 & 3 \\ \hline 11 & .15 & 1000 & cash & .02 & 9 \\ \hline 12 & .15 & 2000 & cash & .01 & 6 \\ \hline 13 & .20 & 1000 & points & .02 & 8 \\ \hline 14 & .20 & 2000 & points & .01 & 3 \\ \hline 15 & .20 & 1000 & cash & .01 & 4 \\ \hline 16 & .20 & 2000 & cash & .02 & 10 \\ \hline \end{tabular}Step by Step Solution
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