Finding Price Elasticity

Question

Hi,

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?

Regards

Answer 1

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.