I don't understand the equation in price-elasticity-derivation presentation. What is . What is What is the formula of

Hi Suchada, thanks for reaching out! Beta are the weight coefficient for the independent variables, in our case they are price, promotion, etc. Beta_0 is the offset or intercept. In practice we obtain the optimal betas from fitting the logistic regression on our data set. For a more detailed explanation on what betas are and how they tie in with machine learning, you can check out the Machine Learning in Python course. Here's a link to the linear regression model lecture: https://learn.365datascience.com/courses/machine-learning-in-python/the-linear-regression-model/ Here the concept is explained for a case of one dependent variable(x_1) only, so we only have the corresponding beta_1. But the same concept applies in the general case when we have more independent variables. Hope this helps! Best, 365 Eli