Business Analytics - (For Complete File Download link at the end of ...

Business Analytics The Art of Modeling With Spreadsheets, 5e Stephen Powell, Kenneth Baker (Solutions Manual All Chapter)

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Draft TV Commercials

Question 1 What do we know?budget is fixed budget must be spent on drafts or on airing quality of commercials is uncertain What can we assume?any number of drafts can be commissioned the quality of different drafts is independent (in probability) What could the results look like?graph of profit as a function of number of drafts graph of retained impressions as a function of number of drafts optimal number of drafts marginal value of one draft more or less What information can be brought to bear?distribution of retained impressions for other commercials What can we ask the client?how variable is the quality of draft commercials?how accurately can a trial audience determine the ultimate quality of a commercial (retained impressions)?does variability in commercial quality vary by product category?Similar situations or problems?sampling from populations with variability optimal stopping problems

Question 2

Problem statements: In what ways could…?

we maximize retained impressions we maximize profit we identify a robust strategy.

Question 3 Decisions number of draft commercials Objectives total retained impressions retained impressions per dollar spent profit Constraints budget

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