This post presents a modern approach to estimate an individual probability curve for the acceptance of an offer from historical accepted and rejected transaction data.
Traditionally, offer prices for products or services are charged on the basis of the costs incurred, plus a target margin. Since the end of the last century, there has been a second approach to setting bid prices…
Frequent problems that we are confronted with can be traced back to a (multidimensional) regression or a classification. Starting from a set of characteristics, regression attempts to represent the dependency between the characteristics and a target variable as a function.
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