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BUAN 6392 FINAL Questions with Correct answers
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BUAN 6392 FINAL Questions with Correct answers
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BUAN 6392 FINAL Questions with Correct answersVideo product experiment design Correct Answer-1. Understand
consumer behavior and use of product videos
2. only do experiments on product pages part of sales funnel to narrow it
down
3. test with human models so we don't have to do multiple video designs
4. test coordinating along with focal so we don't have to test multiple
designs
5. Dependent variables are focal AND coordinating product sales
Two types of experiment design for video products Correct Answer-
Product level and user level; can be randomized based on time or based
on product.
Validate randomization in data Correct Answer-Use balance in
covariates across samples.
- Characteristics should be statistically similar
- Proportion of treatment should be proportionately transmit in each
category
Checking randomization of price Correct Answer-No statistically
significant difference in prices
Checking randomization with proportions Correct Answer-1. Find
proportion of video allocation in whole sample = 58/(58+239)=0.195
2. Construct 95% CI (1.96) for each prod cat
, 3. e.g. dresses = p = 16/88 = 0.18
4. CI is 0.18-1.96*sqrt(0.18*(1-0.18))/88) to 0.18 + 1.96 * sqrt(0.18*(1-
0.18))/88)
5. CI is 0.10 to 0.26 which covers 0.195. Randomization is proper
When we find imbalance in randomization check.... Correct Answer-
Randomization may not be proper, so check for data handling mistakes,
check how randomization is done. If there are technical problems, then
experiment needs to be redone
focal product analysis regression Correct Answer-
Regression vs. t-test Correct Answer-There may be some imbalance that
is not statistically significant. Regression captures correlation between
assigned treatment and 1 or more covariates, captured by a missing Z
variable which causes a bias in estimates. Regression helps mitigate
imbalance.
Regression specification for marketing mix Correct Answer-
Deciding outcome variables Correct Answer-Can be conversion metrics
or engagement metrics. If engagement metrics have better results, give
incentives to convert and conduct follow up experiments that combine
videos with incentives.
Intention to Treat: Causal effect Correct Answer-Treatment: 100/2000
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