Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the following information to answer questions on this page. Colgate launched the Smile for Good toothpaste line, made with 9 9 . 7 %

Use the following information to answer questions on this page.
Colgate launched the "Smile for Good" toothpaste line, made with 99.7% ingredients from
natural sources. To increase its awareness and penetration into the market, Colgate ran
massive in-store promotions and education campaigns about its ingredients. For 40 weeks
of sales and various in-store promotions, and smart retail data that tracks customer
shopping interaction (e.g., coupon usage), you have observed the sales (in the number of
units sold) of the "Smile for Good" line (i.e., focal brand) sales at Woolworth. Each week, you
keep track of the following three promotion activities:
a. Was the focal brand featured in the in-store flyer? Related variable: Feature
b. Was a coupon for the focal brand given to each customer? Related variable:
Coupon
c. Was a shelf price reduction, i.e., sales promotions (none,10, or 25 cents off)
given? Related dummy variables: PriceRed1(10 cents reduction from the regular
price) and PriceRed2(25 cents reduction from the regular price).
Conducting a regression using Sales as the dependent variable and Feature, Coupon,
PriceRed 1 and PriceRed 2 as the independent variables, you get the following output (see
below).
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Introductory Statistics Exploring The World Through Data

Authors: Robert Gould, Colleen Ryan

2nd Edition

9780321978509, 321978277, 321978501, 978-0321978271

Students also viewed these General Management questions