Validation of the Survival Analysis Approach: a Case Study within the Used Car Market
The objective of the present chapter involves applying survival analysis for estimating individual price response functions. Based on an extensive market study concerning the German used car sector, several models introduced in the previous chapter are fitted to the datasets and their applicability on predicting survival is determined, thereby estimating individual sales probabilities of used vehicles.
KeywordsMarket Size Proportional Hazard Assumption Spline Regression Discrimination Accuracy Deviance Residual
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