Cluster Analysis Clarifies the Underlying Structure of Multivariate Data in a Way

question 63

True/False

Cluster analysis clarifies the underlying structure of multivariate data in a way that makes it the best complement to regression analysis.

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Definitions:

Geographic Market Segments

The division of a market into smaller homogeneous groups based on their geographical boundaries or locations.

Real Estate

Property consisting of land and the buildings on it, along with its natural resources, such as crops, minerals, or water.

Target Market Segments

Specific groups of potential customers identified by companies as the most likely to purchase their products or services.

Reposition

The strategy of changing the market position of a product or brand, often to target new demographics or market segments.