Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A marketing researcher is analyzing consumers preferences for smart watches. He designs a conjoint analysis to collect data. The following relationship is found from his

A marketing researcher is analyzing consumers preferences for smart watches. He designs a conjoint analysis to collect data. The following relationship is found from his analysis:

Utility=5+10*Compatibility+20*ScreenSize+15*BatteryLife+35*Price,

where Utility is measured on a 100-point scale (100=most preferred),

Compatibility=1 if compatible with Android and iOS,

=0 if only compatible with iOS

ScreenSize =1 when screen size is 44mm,

=0 when screen size is 40mm

BatteryLife =1 when battery life is 4 days,

=0 when battery life is 2 days

Price =1 when price is $180, =0 when price is $250

How many possible product profiles are included in this conjoint analysis?

a. 12

b. 16

c. 18

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Affordable Housing Finance

Authors: K. Hawtrey

2009th Edition

0230555187, 978-0230555181

More Books

Students also viewed these Finance questions

Question

Evaluate 3x - x for x = -2 Answer:

Answered: 1 week ago

Question

What is group replacement? Explain with an example. (2-3 lines)

Answered: 1 week ago