HW14

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University of South Carolina *

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MKTG716

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Marketing

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Feb 20, 2024

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docx

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Uploaded by AgentPenguin3766

MKTG 3350: Marketing Research and Analytics Homework 14 Name _________________________ Please show ALL of your work by copy-and-pasting your R code and the output. For full credit all work MUST be shown clearly. Problem 1 1) Use the dataset in Yogurt.csv to run a multinomial logit regression of yogurt choices on price and feature. Show a summary of the results. Variable Description hhid household id expenditure total expenditure in dollars income income level (from 1 to 11) HHsize number of persons in household IPT number of days since the previous purchase occassion quantity number of units purchased choice brand purchased: 1,2,3, or 4 feature.1, feature.2, feature.3, feature.4 binary variable indicating if a feature is offered for brands 1, 2, 3, and 4 (feature offered: feature = 1, feature not offered: feature = 0) price.1, price.2, f price.3, f price.4 price for brands 1, 2, 3, and 4 Hint: you may want to use the following code to reformat the yogurt dataset. Yogurt = as.data.frame(Yogurt, stringsAsFactors = TRUE) Yogurt = dfidx(Yogurt, varying = 8:15, shape = "wide", choice = "Choice") 2) Is the regression significant at the .05 level? Why? 3) Which predictors are significant and which are not? Why?

4) What are the probabilities of choosing each yogurt brand when the prices and features are as follows: Brand 1: Price = 0.10, Feature = 1 Brand 2: Price = 0.08, Feature = 1 Brand 3: Price = 0.06, Feature = 0 Brand 4: Price = 0.15, Feature = 0 5) At these levels of price and feature (levels in question 4), what is the predicted percent change in the probability of choosing brand 1 for a 1% increase in the price of brand 1? 6) At these levels of price and feature (levels in question 4), what is the predicted percent change in the probability of choosing brand 3 for a 1% increase in the price of brand 2?

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HW14

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