Prior mean and prior variance matrix in choice design
Hi to all,I am just reading the article Optimal Design of the Choice Experiment - JMP BlogHere the author writes "When there are three levels in increasing utility order, enter negative, then 0." So far so good. But what if I have e. g. 5 prices like 5, 10, 15, 20, 25 and 30 euros. Which prior means would I take in that case?30 = -425 = -320 = -215 = -110 = 05 = 1And is the prior mean variance sti...
