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:

Standard Hour Plans

Compensation systems where employees are paid a set rate for each unit of time worked, calculating earnings based on the number of hours worked at a predetermined rate.

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Businesses that specialize in selling new or used cars at the retail level, often under a dealership contract with an automaker.

Straight Piecework

An incentive plan under which employees receive a certain rate for each unit produced.

Unit Produced

A measure of output that quantifies the total amount of goods or services produced by an individual, team, or organization within a given timeframe.