Which Technique Provides a Means for Measuring Objects in a Multidimensional

question 3

Multiple Choice

Which technique provides a means for measuring objects in a multidimensional space based on respondents' judgments of how similar different objects are?

• A)partial least squares (PLS)
• B)multidimensional scaling
• C)partial correlations
• D)discriminant analysis

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Definitions:

Absolute Advantage

A term used in international trade theory to describe the ability of a country to produce a good more efficiently than another country.

Comparative Advantage

The ability of a country or firm to produce a particular good or service at a lower opportunity cost than others, leading to more efficient trade patterns.

Specialize

To specialize means focusing on a narrow area of knowledge or skill within a wider field, aiming to become an expert or highly skilled in that specific area.

Opportunity Cost

Overlooking potential gains available from different alternatives by settling on one choice.