Produce an econometric model for one of clients


A media agency hired you to produce an econometric model for one of their clients. The director of markteting for the client was confident they can show a $1.25 ROI for each media dollar and made promises to their management that indeed their media investment was definitely going to generate that kind of return. Then you ran an econometric model which showed the media ROI was not $1.25 but instead it was $.070. You are asked to come up with a version that shows $1.25 but you do not trust that model as the goodness of fit is weak, and because other elements in that model are illogical and too many assumption are required. What would you do if you were told the media budget will be lost and the agency that hired you would lose business if the ROI is not greater than $1.

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Business Management: Produce an econometric model for one of clients
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