spend.plot.average.transaction.value: Plot Actual vs. Expected Average Transaction Value
In retina-dot-ai/BTYD: Implementing Buy 'Til You Die Models

Description Usage Arguments Value See Also Examples

Plots the actual and expected densities of average transaction values, and returns a vector with each customer's average transaction value probability.

spend.plot.average.transaction.value(params, m.x.vector, x.vector,
  xlab = "Average Transaction Value",
  ylab = "Marginal Distribution of Average Transaction Value",
  title = "Actual vs. Expected Average Transaction Value Across Customers")

`params`	a vector of gamma-gamma parameters: p, q, and gamma, in that order. p is the shape parameter for each transaction. The scale parameter for each transaction is distributed across customers according to a gamma distribution with parameters q (shape) and gamma (scale).
`m.x.vector`	a vector with each customer's average observed transaction value in the calibration period.
`x.vector`	a vector with the number of transactions each customer made in the calibration period. Must correspond to m.x.vector in terms of ordering of customers and length of the vector.
`xlab`	descriptive label for the x axis.
`ylab`	descriptive label for the y axis.
`title`	title placed on the top-center of the plot.

a vector with the probability of each customer's average transaction value.

spend.marginal.likelihood

data(cdnowSummary)
ave.spend <- cdnowSummary$m.x
tot.trans <- cdnowSummary$cbs[,"x"]
params <- c(6.25, 3.74, 15.44)

# Plot the actual and expected average transaction value across customers.
f.m.x <- spend.plot.average.transaction.value(params, ave.spend, tot.trans)