In a short essay, define standardization and include a discussion of beta coefficient and standardized regression coefficient to support your answer
What will be an ideal response?
Standardization is the process by which the raw data are transformed into new variables that have a mean of 0 and a variance of 1. When the data are standardized, the intercept assumes a value of 0. The term beta coefficient is used to denote the standardized regression coefficient, which is the slope obtained by the regression of y on x when the data are standardized. Standardization may be desirable because it is easier to compare the beta coefficients than it is to compare the raw coefficients.
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Successful marketing researchers:
A. focus their efforts on determining the wants and needs of customers, since the core value of marketing is that the customer is king. B. develop as much information as possible from primary sources. C. identify particular segments within the market. D. listen to customers and other stakeholders. E. rely on their personal opinions when available data is incomplete.
Interruption
What will be an ideal response?