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Enterprise Industries produces Fresh, a brand of liquid laundry detergent. In order to manage its inventory more effectively and make revenue projections, the company would
Enterprise Industries produces Fresh, a brand of liquid laundry detergent. In order to manage its inventory more effectively and make revenue projections, the company would like to better predict demand for Fresh. To develop a prediction model, the company has gathered data concerning demand for Fresh over the last sales periods each sales period is defined to be a fourweek period The demand data are presented in table below concerning y demand for Fresh liquid laundry detergent xthe price of Fresh xthe average industry price of competitors' similar detergents and xEnterprise Industries advertising expenditure for Fresh To ultimately increase the demand for Fresh, Enterprise Industries marketing department is comparing the effectiveness of three different advertising campaigns. These campaigns are denoted as campaigns A B and C Campaign A consists entirely of television commercials, campaign B consists of a balanced mixture of television and radio commercials, and campaign C consists of a balanced mixture of television, radio, newspaper, and magazine ads. To conduct the study, Enterprise Industries has randomly selected one advertising campaign to be used in each of the sales periods in table below. Although logic would indicate that each of campaigns A B and C should be used in of the sales periods, Enterprise Industries has made previous commitments to the advertising media involved in the study. As a result, campaigns A B and C were randomly assigned to respectively, and sales periods. Furthermore, advertising was done in only the first three weeks of each sales period, so that the carryover effect of the campaign used in a sales period to the next sales period would be minimized. Table lists the campaigns used in the sales periods.
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