Promotion (introduced in Chapter 19) These data describe spending by a pharmaceutical company to promote a cholesterol-lowering
Question:
(a) A hasty analyst fit the regression of Market Share on Detail Voice with the data from both locations combined. The analyst found a statistically significant slope for Detail Voice, estimated larger than
1. (This finding implies that a 1% increase in the share of detailing would get on average 1% more of the market.) What mistake has the analyst made?
(b) Propose an alternative model and evaluate whether your alternative model meets the conditions of the MRM so that you can do confidence intervals.
(c) What’s your interpretation of the relationship between detailing and market share? If you can, offer your impression as a range.
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Related Book For
Statistics For Business Decision Making And Analysis
ISBN: 9780321890269
2nd Edition
Authors: Robert Stine, Dean Foster
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