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Case1Paper - Joel Avery December 2 2008 BUAD 310 T-Th 10am...

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Joel Avery December 2, 2008 BUAD 310 T-Th 10am Case Study 1 Executive Summary When considering the page cost of a four-color, one-page ad, we had to consider different variables such as reader circulation (projected in thousands), percent male among the predicted readership, and the median household income of readership. However, not all of these explanatory variables (factors that determine your page cost) were needed in determining the most accurate estimation for the price of advertisements in magazines. In order to figure out which variables didn’t directly influence the page cost of an ad, we determined whether or not the variable itself was significant and specifically correlated to the response variable, pagecost. In the end, we found that the percentage of male readers was not a significant variable. After determining this, we observed residual plots and regression analysis data to find that the best possible model to determine page cost is: Lncost = 4.01 + 0.644 Lncirc + 0.000060 medianincome
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