Questions: What is the rationale behind having three distinct segments?

Transcript text: What is the rationale behind having three distinct segments?

Solution

Solution Steps

Step 1: Understanding the Elbow Plot

The Elbow Plot in Figure 1 shows the Total Within Sum of Squares (WSS) against the number of clusters (k). The optimal number of clusters is identified at the "elbow point," where the rate of decrease sharply slows down. In this case, the elbow point is at k=3, indicating that three clusters are optimal.

Step 2: Analyzing Cluster Sizes

From Table 1, the sizes of each cluster are:

Cluster 1: 321 (32.1%)
Cluster 2: 218 (21.8%)
Cluster 3: 461 (46.1%)

This distribution shows that the data is divided into three distinct segments with varying sizes.

Step 3: Evaluating Cluster Characteristics

Each cluster has different characteristics based on the given metrics:

Cluster 1: Higher scores in constant communication, task management, and device sturdiness.
Cluster 2: Highest scores in well-being, athleticism, and style.
Cluster 3: Higher age and larger segment size, but lower scores in most other metrics.

Final Answer

The rationale behind having three distinct segments is supported by the Elbow Plot, which indicates that three clusters minimize the Total Within Sum of Squares effectively. Additionally, the distinct characteristics and sizes of each cluster, as shown in Table 1, justify the segmentation into three groups.

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