A Bayesian Regression Approach for Estimating the Impact of COVID-19 on Consumer Behavior in the Restaurant Industry

arXiv:2404.08670v1 Announce Type: cross
Abstract: The COVID-19 pandemic has had a long-term impact on industries worldwide, with the hospitality and food industry facing significant challenges, leading to the permanent closure of many restaurants and the loss of jobs. In this study, we developed an innovative analytical framework using Hamiltonian Monte Carlo for predictive modeling with Bayesian regression, aiming to estimate the change point in consumer behavior towards different types of restaurants due to COVID-19. Our approach emphasizes a novel method …

abstract arxiv bayesian behavior challenges consumer covid covid-19 covid-19 pandemic cs.lg food food industry hospitality impact industries industry jobs long-term loss pandemic regression restaurant restaurants stat.ap stat.ml study type