Dear Members,
I am studying customer behavior towards buying products from a specific company.
The company has three different products, Y1, Y2, Y3. These are agricultural inputs and coded as 0,1( buying or not). the company is interested in increasing it selling through existing customers. Currently, interest is to compute probability that if A is buying Y1 can buy Y2 and/or Y3.
My thoughts saying that estimate three logistics models, one for each product.
Y1=f(Y2,Y3, Xi) -----------------Xi are continuous variables.
y2=f(y1 y3 xi)
y3= f(y1 y2 xi)
Is it fine? else what you suggest?
Can i test correlation between these models, as in case of SUR?
Can we estimate like SUR?
Any supporting literature please.
This is simplistic and certainly not numerically efficient, but a Monte Carlo simultion of your project's "world" often helps to see what's going on without overloading the system without assumed conraints and parameters.
Larry Dworskiy
Thank you for response.
I am not well prepared with simulation. Can you please share a source?
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