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Step 1: Estimate New account sales using the regression formula and the TV and Print advertising expenditures in the table. Step 2: Use the remainder
Step 1: Estimate New account sales using the regression formula and the TV and Print advertising expenditures in the table. Step 2: Use the remainder of the table to find the optimum print and TV expenditures (in $1000) to maximize new account growth using an annual Advertising budget of $65,000 (65 x$1000)
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Principles of Economics
Authors: Gregory Mankiw
7th edition
128516587X, 978-1285165875
