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Calculating Std Error on Share of preference


Can anybody let me know how to calculate Standard error for SHare of Preference in a Simulator.
I have prepared the simulator in Excel.

Thanks & Regards
asked Feb 24, 2014 by mal_saw2001 Bronze (875 points)

1 Answer

+1 vote
I'm assuming you've built a simulator based on individual-level utilities (such as HB).  In that case, for each respondent, you obtain a set of shares of preference that sum to 100%.

Across respondents, compute the population standard deviation of the shares of preference for each product in the simulator.

For each product's standard deviation, divide by the square root of the sample size.  That's your standard error.
answered Feb 24, 2014 by Bryan Orme Platinum Sawtooth Software, Inc. (138,815 points)