I have some questions on the "Purchase Likelihood" estimates in the market simulator.
When I combine service options using interaction HB estimates and simulate, it shows different estimates based on the selection criteria.
(a) Does the purchase likelihood take into consideration the "Yes" the respondents chose for dual response "none" option?
(b) How reliable are these "Purchase Likelihood" estimates? Can I use these estimates instead of "Share of preference" to determine the likelihood of of a particular Service combination of interest?
For example, the standard error for a particular Purchase Likelihood standard error is 8.2% for a particular price point.
I had tried to find the WTP for a specific attribute and level by taking into consideration competing products as suggested by Keith Chrzan in one of my questions before.
However, this only provides an estimate of the price point of a specific attribute. To determine the likelihood of purchase at a particular price point for a combination of attributes, I am bit confused if I can take that same price point for the combination.