Number of Cluster Firms
Could I have number of Clusters in total
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1 reply
hollyb
over 7 years ago
well, the optimal number of clusters is somehow subjective and depends on the method used for measuring similarities and the parameters used for partitioning. A simple and popular solution consists of inspecting the dendrogram produced using hierarchical clustering to see if it suggests a particular number of clusters.
For more informations about hierarchical clustering algorithms, look there:
Hierarchical Clustering Algorithms-Recognizing Patterns and Classifying Them-Lecture Slides, Slides for Pattern Classification and Recognition
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