Hi all,
I have data from a survey on prices individuals are willing to pay for a product. In particular, each participant had to provide a price for each of the variables OE, DC_Price and P_Basic.
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I need to plot the aggregate demand curves for the three variables on the same graph (Just like the image below). Here the x-axis is Price and the Y-axis is Quantity (normalised).
The curves should show the aggregate demand based on aggregating individuals' responses to the OE, DC_Price and P_Basic questions.
Here quantity should be the aggregate demand that is normalized to a range between 0 and 1 due to differing sample sizes.
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My idea is to create a histogram overlaying all three variables and somehow turning this into a connected line graph? However, I doubt this takes into account aggregating the individuals responses and based on what I have read in this forum one cannot create a line graph from a histogram?
Below is a screenshot of the histogram for just the OE variable.
histogram OE, bin(20) frequency xtitle(Price) xlabel(#20, labels ticks)
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Is there perhaps an easier way to plotting these demand curves? Or any other suggestion on how to go about this?
Any recommendations or guidance would be greatly appreciated.
Thanks,
Carmen
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