The Model Used Most Often in Marketing That Includes Item-Specific

question 27

Multiple Choice

The model used most often in marketing that includes item-specific information is referred to as the

• A) Gumbel Logit model (GLM)
• B) Multinomial Logit model (MNL)
• C) Guadagni & Little Logit model (GLLM)
• D) Kaiser Probit model (KPM)

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Definitions:

Multiple Regression Model

A statistical technique used to predict the value of a dependent variable based on the values of two or more independent variables.

Multiple Coefficient

Often refers to the multiple correlation coefficient in statistics, describing the strength and direction of a linear relationship between more than two variables.

Determination

In statistical analysis, it often refers to the extent to which variation in one variable determines or predicts the variation in another variable, commonly assessed with the coefficient of determination (R²).

Observations

Data points or values collected during an experiment or survey.