A test for the hit rate in binary response models
Binary response models are often applied in empirical marketing research where, for example, individuals or households can be classified as buyers and non-buyers of certain products or as respondents and non-respondents to direct mailing. One way to evaluate such models amounts to calculating the fraction of correctly classified cases, that is, the hit rate. This paper brings to the attention a simple brand test for the statistical significance of this hit rate. An application to a binary brand choice case serves as an illustration.
|Keywords||advertising, binary system, brand choice, empirical research, marketing research, response rates|
|Series||ERIM Article Series (EAS)|
|Journal||International Journal of Market Research|
Franses, Ph.H.B.F. (2000). A test for the hit rate in binary response models. International Journal of Market Research, 239–245. Retrieved from http://hdl.handle.net/1765/2182