4.a Imagine you conducted a conjoint analysis for electric cars. Consider the following regression output for one person.
PARTWORTHS
Intercept
5.58
Color
Red
0.00
Black
-0.10
Blue
-0.20
Brand
Tesla
0.00
Polestar
-0.75
Range
240 miles
0.00
320 miles
0.75
400 miles
1.20
Price
$50,000
1.50
$70,000
0.00
$90,000
-1.50
What is the ideal product for this person (5pt)?
4.b Using the conjoint regression output, calculate this person’s utility for a blue Polestar with a range of 400, and a price of $50,000 (5pt)?
4.c How much more in dollars would this person be willing to pay for a vehicle with a 320 range versus a 240 range?
4d. What is the utility of the baseline profile?
