Using the coefficients provided from the marketing mix model…
Using the coefficients provided from the marketing mix model, where all coefficients are statistically significant and the dependent variable is log(sales) (natural log). You are considering adding a feature at the end of May. Your price is $2 and there is an in-store display. What is the expected incremental sales? Round your answer to the nearest whole number. Intercept: 8 Price: -2.0 (continuous variable) Display: 0.6 (discrete variable, 1 if present, 0 otherwise) Feature: 0.3 (discrete variable, 1 if present, 0 otherwise) Display*Feature: -0.1 (interaction term between Display and Feature) Fourth: 0.8 (dummy variable, 1 for the 4th of July, 0 otherwise)