Summary 1ZM31 Multivariate Data Analysis by Hair Questions and Answers 2023

Multivariate Analysis - -deals with the statistical analysis of observations where there are multiple responses on each observational unit. -Multivariate Analysis - -This essentially models reality where each situation, product, or decision involves more than a single variable. -quantum of data - -Despite the ____________________ available, the ability to obtain a clear picture of what is going on and make intelligent decisions is a challenge. -process the information in a meaningful fashion - -When available information is stored in database tables containing rows and columns, Multivariate Analysis can be used to __________________ -USES OF MVDA - -- Consumer and market research - Quality control and quality assurance across a range of industries such as food and beverage, paint, pharmaceuticals, chemicals, energy, telecommunications, etc. - Process optimization and process control - Research and development -TYPES OF MVDA - -1. Principal Component Analysis/ Factor Analysis 2. Classification and Discriminant Analysis 3. Multiple Regression Analysis or Partial Least Squares -Principal Component Analysis/ Factor Analysis - -