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Finding Price Elasticity


I have a week wise data in terms of value of engine oil sold and the number of units sold. This way I can calculate the price per unit of each SKU on a weekly basis.

However, can I feed this data in a conjoint model to get price elasticity?

asked May 4, 2016 by MALHAR

1 Answer

0 votes
Conjoint analysis methods combine regression or logit statistical models to respondent evaluations of experimentally designed stimuli.  It is not just a statistical method like regression into which just any data whatsoever may be put.  

Your time series sales data will be most profitably analyzed via one of several time series models.
answered May 4, 2016 by Keith Chrzan Platinum Sawtooth Software, Inc. (111,375 points)