The Basic Conjoint Analysis Model Expressing the Fundamental Relationship Between $$U ( X ) = \sum _ { i = 1 } ^ { m } \sum _ { j = 1 } ^ { k i } \alpha _ { i j } X _ { i j }$$

question 34

Multiple Choice

The basic conjoint analysis model expressing the fundamental relationship between attributes and utility in conjoint analysis is shown below:
$$U ( X ) = \sum _ { i = 1 } ^ { m } \sum _ { j = 1 } ^ { k i } \alpha _ { i j } X _ { i j }$$
What does Xij represent?

• A) number of levels of attribute i
• B) number of attributes
• C) 1 if the jth level of the ith attribute is present,or 0 otherwise
• D) the part-worth contribution or utility associated with jth level (j,j=1,2,...ki)of the ith attribute (i,i=1,2,...m)

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Definitions:

Risk Losing

The potential or likelihood of experiencing a loss, failure, or negative outcome as a result of taking an action or making a decision.

Need for Social

The need for social refers to the human necessity for companionship, belonging, and acceptance within a group or community.

Avoid Risk-Taking

A behavioral tendency to steer clear of actions or decisions that could lead to negative outcomes or uncertainties.

Abiding by Rules

The act of following established guidelines, regulations, or laws within a given context or environment.