Byctf viceversa
Classified in Mathematics
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The expected value of this variable is E(COKE) 1⁄4 pCOKE 1⁄4 probability that Coke is chosen. What factors might enter the choice decision? The relative price of Coke to Pepsi (PRATIO) is a potential factor. As the relative price of Coke rises, we should observe a reduced probability of its choice. Other factors influencing the consumer might be the presence of store displays for these products. Let DISP_COKE and DISP_PEPSI be indicator variables taking the value one if the respective store display is present and zero if it is not. We expect that the presence of a Coke display will increase the probability of a Coke purchas