For the three price-response functions listed in Table 4.4linear, exponential, and constant-elasticityfit a model on the training
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For the three price-response functions listed in Table 4.4—linear, exponential, and constant-elasticity—fit a model on the training data in Table 4.2 that includes Weekend as an explanatory variable along with Price.
a. What are the coefficients for Price and Weekend in each model?
b. Calculate RMSE, MAPE, and weighted MAPE for the models on the test data in Table 4.3 including Weekend. How do the fits of the models including Weekend compare to the fits of the previous models? Which model best fits the data?
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