Week 3 Class 1

Grisby Chapter 1 & 11, HBR Guide to Analytics Chapter 13, "The impact of publicity and ad spending on marketing and company performance" article.

Interesting information:
1.) With bigger sample sizes you're less likely to get results that reflect randomness (Ch 13)
2.) Public relations is found to be more effective than advertising, particularly in new product contexts and for existing product contexts (article)
3.) Deductive vs inductive thinking (how you can infer things logically versus statistically) (Ch 1)

Questions:
1.) How can you eliminate non-sampling errors?
2.) How does advertising spending show strong positive influence on sales revenue but only moderate influence on profitability?
3.) Why do firms try to use super small control groups to save money if in the end it gives them inconclusive results and defeats the purpose of statistical testing? (Ch 11)
4.) What is the main difference between a strategically picked control group with proper variation/size and a UCG (universal control group)? (Ch 11)


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