interpretation of parameters
Posted: Tue Dec 13, 2011 3:51 am
In the attachment you find the output of the code i got.
From this i understand that the negative coefficient with price says that when the price goes up the probability that the product is bought goes down
and that the positive coefficient with promotion says that when there will be more promotion the probability that the product is bought goes up.
But what means the negative sign at the constant?
And what does price x promo mean?
From this i understand that the negative coefficient with price says that when the price goes up the probability that the product is bought goes down
and that the positive coefficient with promotion says that when there will be more promotion the probability that the product is bought goes up.
But what means the negative sign at the constant?
And what does price x promo mean?