MagazineAds_Case2-su08

MagazineAds_Case2-su08 - BUAD 310 Case 2, Summer 2008 Dr....

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BUAD 310 Case 2, Summer 2008 – Dr. Ansari’s Class Total 100 points – Due 7/30/08 (Wednesday) In this case you will apply many of the statistical techniques learned in part 2 of BUAD310. Instructions: This exercise uses data from the file MagazineAds-sp08.MTW which you can  download from Blackboard.  The entire case should be typed in word document and clearly written and  submitted with supporting documents (MINITAB printouts). The printouts can be  directly copied and pasted into the word document. The main part, done as a GROUP and worth 4 points for each question, should have  the complete name of each team member.  The Executive Summary, worth 25 points, should be done INDIVIDUALLY. Submit one copy of each Executive Summary and one copy per group of the main  portion of the case.  Both the Main part and executive summary (one for each person)  should be printed and put together and must be submitted on the due date. What factors influence the price of advertisements in magazines? Dr. Sam Parameter, author of  the textbook   Statistics for Poets , has been contemplating starting a new magazine,   Popular  Statistics , and needs to know if it will be profitable enough. An internal group of analysts has  collected a dataset of 50 consumer magazines and has found that the mean cost for a one-page  advertisement is $37,841. This information was very encouraging to Sam until another employee  calculated the standard deviation of the sample to be $23,209. What number should be used  then? The employee also reminded Sam that there may be many variables affecting cost of a  one-page advertisement. Your Market Research firm has now been hired to look into the matter.  You have augmented the original dataset of 50 magazines by measuring more characteristics of  the   magazines   and   their   audiences   that   may   be   useful   in   understanding   the   one-page  advertisement costs better. The variables are the following 1 : Magazine Name Cost of a four-color, one-page ad 1 Data are from Mediamark Research Magazine Qualitative Audiences Report , Spring 1996, and SRDS Consumer Magazine Advertising Source , July 1997, Volume 79 Number 7. – **** This data has been modified for class and two dummy magazines are added to the data and one more variable is added to the data. Originally Prepared by Prof. Dawn PorterPage 1
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MagazineAds_Case2-su08 - BUAD 310 Case 2, Summer 2008 Dr....

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