Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Data in this image contains sales transactions at a leading grocery store ABC Retail Mart over the last few weeks a) Explain the concept of

Data in this image contains sales transactions at a leading grocery store ABC Retail Mart over the last few weeks

a) Explain the concept of lift and how it affects the decisions of marketers

b) Determine all product lifts and list the three largest lifts for the transactions

c) Analyze and interpret the results from the above-computed lifts.

image text in transcribed

transaction # 1 2 Milk 1 Cheese 0 1 Bread 0 1 Cucumber 0 0 Butter 1 0 day week 5 4 5 5 7 1 1 1 0 3 4 5 6 0 0 1 Tomatoes 1 1 0 0 1 0 0 0 0 1 0 1 0 0 0 1 1 1 0 1 0 0 0 1 2 3 3 6 7 8 1 0 1 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 6 1 4 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 7 7 6 5 3 3 0 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 0 0 0 0 1 1 0 0 1 0 0 1 0 0 0 0 1 1 0 1 1 1 0 3 1 1 3 7 6 0 0 1 1 0 0 0 0 1 0 0 0 1 0 1 0 0 0 1 1 0 1 1 0 transaction # 1 2 Milk 1 Cheese 0 1 Bread 0 1 Cucumber 0 0 Butter 1 0 day week 5 4 5 5 7 1 1 1 0 3 4 5 6 0 0 1 Tomatoes 1 1 0 0 1 0 0 0 0 1 0 1 0 0 0 1 1 1 0 1 0 0 0 1 2 3 3 6 7 8 1 0 1 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 6 1 4 1 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 7 7 6 5 3 3 0 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 0 0 0 0 1 1 0 0 1 0 0 1 0 0 0 0 1 1 0 1 1 1 0 3 1 1 3 7 6 0 0 1 1 0 0 0 0 1 0 0 0 1 0 1 0 0 0 1 1 0 1 1 0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials Of Marketing

Authors: David Brown, Alex Thompson

1st Edition

0367773422, 9780367773427

More Books

Students also viewed these Accounting questions

Question

Do you have little trouble staying up past midnight? Yes No

Answered: 1 week ago

Question

Know how to find a consultant

Answered: 1 week ago