Using Machine Learning to Estimate Price Elasticity
During the final semester of my grad school analytics program, I was tasked with estimating price elasticity for wine. At first glance, this seemed like a simple objective. In economics, I was taught that price elasticity is the percent change in demand given the percent change in price (i.e....
R Tutorial: ANOVA and Simple Linear Regression
Part A. ANOVA Blue light has been a hot topic over the past few years. As people spend more time looking at screens, it is becoming increasingly important to understand the effects of blue light exposure on a person’s sleep. In this experiment, all 22 subjects are required to...