Using the Data Given, Apply K-Means Clustering Using Price ($)

question 52

Essay

Using the data given, apply k-means clustering using Price ($) as the variable with k = 3. Be sure to Normalize input data, and specify 50 iterations and 10 random starts in Step 2 of the XLMiner k-Means Clustering procedure. Then create one distinct data set for each of the three resulting clusters of price.
a. For the observations composing the cluster with low home price, apply hierarchical clustering with Ward's method to form three clusters using Acres and Age as variables. Be sure to Normalize input data in Step 2 of the XLMiner Hierarchical Clustering procedure. Using a PivotTable on the data in HC_Clusters1, report the characteristics of each cluster.
b. For the observations composing the cluster with medium home price, apply hierarchical clustering with Ward's method to form three clusters using Acres and Age as variables. Be sure to Normalize input data in Step 2 of the XLMiner Hierarchical Clustering procedure. Using a PivotTable on the data in HC_Clusters1, report the characteristics of each cluster.
c. Comment on the cluster with high home price.

Explain sexuality as a spectrum and its significance in social science and marketing.

Grasp the importance of gender identity in forming one's self-concept and its implications for marketing.

Discern how societal expectations about gender-appropriate behavior influence individual choices and perceptions.

Discuss the significance of the LGBT market to marketers and considerations for targeting this demographic.

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Definitions:

La Niña

A climate pattern characterized by cooler than average sea surface temperatures in the central and eastern tropical Pacific Ocean, influencing global weather patterns.

Moist Air

Air that contains a high level of water vapor, often leading to higher humidity levels and affecting weather patterns and human comfort.

Precipitation

Any water substance, whether solid or liquid, that comes down from the clouds and touches the Earth, encompassing rain, snow, sleet, and hail.

Greenhouse Effect

The warming of Earth's surface and lower atmosphere caused by the presence of certain gases in the air which trap energy from the sun.