Predicting choice shares
I've loaded a function called predict_mnl()
that we can use to predict choice shares for a new set of products. predict_mnl()
takes two inputs:
- a model object produced by
mlogit
- a data frame describing the products that we want to predict shares for
This exercise is part of the course
Choice Modeling for Marketing in R
Exercise instructions
- Inspect
products
to see what features these four cars have.products
is not large, so you can simply type its name to print the full data frame to the console. - Use
predict_mnl()
to predict shares for those two products. You will need to set the first input tom1
and the second input toproducts
. - Print the shares to the console by typing
shares
.
Hands-on interactive exercise
Have a go at this exercise by completing this sample code.
# inspect products
# use predict_mnl to predict share for products
shares <- predict_mnl(___, ___)
# print the shares to the console