Quiz Space

Business Analytics · End Term · 24 Dec 2023 · September 2023 term · Set ADF3

Question 23: In conjoint analysis, the objective function of the line…

Question 23

+1.5 marksOne correct option

In conjoint analysis, the objective function of the linear programming model using pair-wise judgments:

  1. A

    Maximize the distance from the ideal point

  2. B

    Minimize the goodness of fit

  3. C

    Minimize the poorness of fit

  4. D

    Both Maximize the distance from the ideal point and Minimize the goodness of fit

  5. E

    Both Maximize the distance from the ideal point and Minimize the poorness of fit

Show answer

Correct answer

  • C

    Minimize the poorness of fit

See the whole paperTake it as a mock test

Question 23 of 35 in the IIT Madras BS Business Analytics (Business Analytics) End Term paper sat on 24 Dec 2023, in the September 2023 term (IIT M FOUNDATION FN EXAM FDF1 24 Dec 2023). It carries 1.5 marks.

More questions from this paper

  1. Q1What is the expected number of ice-creams that will be sold in any given bin? (Note: Enter the answer rounded to two de…
  2. Q2What is the “Degrees of Freedom” for the statistical test that will be performed? (Note: Enter the answer rounded to tw…
  3. Q3What is the value of the computed test statistic? (Note: Enter the answer rounded to two decimal places. For example, i…
  4. Q4If the tabulated value of the test statistic is 10.59, then which of the following statements are correct?
  5. Q5How many degrees of freedom is present for the test used to determine if the sales in “Street-A” and “Street-B” are not…
  6. Q6If the aim is to find if the sales in “Street-A” and “Street-B” are independent on each other across days, then what is…
  7. Q7If the aim is to find if the sales in “Street-A” and “Street-B” are independent on each other across days, then what is…
  8. Q8What is the probability that a customer will come by “Scooty” to the shop? (Note: Enter the answer in <u>decimals. DO N…
  9. Q9If 400 customers had visited in the shop on 10th December 2023, then how many would you expect to have travelled by “Bu…
  10. Q10The retailer is planning spend money on creating a parking space (for “Cars” and “Scooties”). Once the space is built, …
  11. Q11Recently, the store owner found a CCTV footage of a customer who shoplifts. The shoplifting customer had not arrived by…
  12. Q12What should be price at which the shop should the bicycle, if the aim is to maximize the revenue? (Note: Enter the answ…
  13. Q13What should be the price at which the shop should sell a bicycle if it wants to maximize the profit? (Note: Enter the a…
  14. Q14How many decision variables are present in the standard form of the primal for the given problem? (Note: Enter the answ…
  15. Q15Based on the standard form of the primal, how many decision variables will be present in the dual formulation? (Note: E…
  16. Q16Based on the standard form of the primal for the given problem, which of the following <u>is/ are</u> <u>“RHS” values f…
  17. Q17If the owner purchases 511 Apples, 390 Bananas, 500 Oranges and 500 Mangoes, then how many constraints in the standard …
  18. Q18If the owner purchases 511 Apples, 390 Bananas, 500 Oranges and 500 Mangoes, then what is the value of the objective fu…
  19. Q19If the owner purchases 511 Apples, 390 Bananas, 500 Oranges and 500 Mangoes, then based on the standard form of the pri…
  20. Q20What are the two dimensions of the DEA?
  21. Q21When the profit increases with a unit increase in a resource, this change in profit will be shown in Solver's sensitivi…
  22. Q22How is a Hypothetical Composite Unit computed in DEA for a DMU using a graphical method? Assume the x-axis is input 1 a…
  23. Q24In DEA, for calculating the weights of efficiency (weighted outputs/weighted inputs), when can the Linear Programming m…
  24. Q25What is the format of data needed for performing the conjoint analysis using the Statistical or Linear Regression Appro…
  25. Q26There are 4 business units. There are two outputs and one input under consideration. You are solving the optimization p…
  26. Q27What is choice-based conjoint analysis?
  27. Q28A Professor company wants to understand his/her model performance of a classification problem where the students who co…
  28. Q29A Professor company wants to understand his/her model performance of a classification problem where the students who co…
  29. Q30A Professor company wants to understand his/her model performance of a classification problem where the students who co…
  30. Q31A Professor company wants to understand his/her model performance of a classification problem where the students who co…
  31. Q32A Professor company wants to understand his/her model performance of a classification problem where the students who co…
  32. Q33If a linear demand-response curve is fit for the data, what is the satiating price?
  33. Q34If a linear demand-response curve is fit for the data, what is the market size?
  34. Q35What is the elasticity of the linear demand-response curve, when the price is Rs. 50?\ Hint: Round your answer to two d…