Fit a lognormal curve to generate priceband
Posted: Fri Aug 31, 2012 9:51 am
I have two variables namely Price-band and Percentage. Price-band represents the lower bound of a price range (e.g. 500 means 500<price<600). Percentage represents the Market Share of product "A" sold in a particular price range, and they add up to 1. The Percentage looks very much like a log-normal in shape relative to price band, and I simply want to fit something like a log-normal curve to Percentage, with Price-band being independent variable.
Shall I use @dlognorm? Please kindly advise on how I can do it...main purpose is to conduct price-analysis and forecasting.
PRICE-BAND Percentage
500 0.0056
600 0.0010
700 0.4406
800 0.1413
900 0.2224
1000 0.0407
1100 0.0154
1200 0.0345
1300 0.0834
1400 0.0129
1500 0.0013
1600 0.0001
1700 0.0007
Thanks a lot!
Shall I use @dlognorm? Please kindly advise on how I can do it...main purpose is to conduct price-analysis and forecasting.
PRICE-BAND Percentage
500 0.0056
600 0.0010
700 0.4406
800 0.1413
900 0.2224
1000 0.0407
1100 0.0154
1200 0.0345
1300 0.0834
1400 0.0129
1500 0.0013
1600 0.0001
1700 0.0007
Thanks a lot!