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1 . Using regression, estimate the attribute coefficients for each of the five remaining respondents. You will need to code the X matrix of independent
Using regression, estimate the attribute coefficients for each of the five remaining respondents. You will need to code the X matrix of independent variables. For your analysis, treat the brand and engine variables as categorical. For the brand attribute, treat Honda as the baseline. For the engine attribute treat the HP Hybrid as the baseline. Treat the price attribute as a continuous variable.
For each respondent ie all respondents determine the relative importance of each attribute. On average, what is most important attribute across the respondents?
For each respondent ie all respondents compute the WTP for the Nissan and Toyota brands relative to Honda and the WTP for the HP V and HP V engines relative to the HP Hybrid Report the average WTP across respondents.
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