Question
A.Consider the following general choice model: Pr(Buy) = exp(a + b*X) / [1+exp(a + b*X)] Using the exponential function, mathematically explain how X impacts purchase
A.Consider the following general choice model:
Pr(Buy) = exp(a + b*X) / [1+exp(a + b*X)]
Using the exponential function, mathematically explain how X impacts purchase odds when b < 0 and when b > 0.
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Probability and Stochastic Processes A Friendly Introduction for Electrical and Computer Engineers
Authors: Roy D. Yates, David J. Goodman
3rd edition
1118324560, 978-1118324561
