Category Price Elasticity

We measure the sensitivities or also known as price elasticity if we standardize them. We come up with an average price sensitivity measure. For a formal definition click here. The average price elasticity and what I'm trying to do here is trying to illustrate what's the geographic context of the problem. So each of these individual thermometers is a store. So here you've got a store in Schaumberg, here's a store in Evanston, and here's one in Julliett. So there are 80 different symbols on this, the scale of the thermometer denotes the intensity of price sensitivity. You see some thermometers that are unfilled and other thermometers that are filled all the way up. So the thermometers that aren't filled up indicate those stores that are very price-sensitive. There thermometers that are filled up all the way denote those stores are really price-insensitive, not sensitive to price changes at all.

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