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Regression (21 points) The electronic vehicle manufaturer, Otto Bahn heard that you are an expert in regression. He has asked you to analyze some...
Gains and Lift: (12 points). Refer to the Q3 Gains & Lift Tab in the Excel file for question 3. You’re an expert in recommending marketing strategies based on Lift, and you’re hired as a consultant. In the Q3 Gains & Lift Tab of the Excel spreadsheet is a table of groups of customers in five quintiles based on scores from a model that predicts likelihood to respond.
Fill in the cells for incremental Gains, Cumulative Response Rate, and Cumulative Gains.
You tell your client that the best customers are in the top (1st quintile) group. How much better do the customers in this quintile respond vs. the entire sample?
Your client wants to launch a campaign to send an offer to customers. The campaign has to have at least a 6.5% overall response rate. Should the campaign include names that are in the 2nd quintile group? Why, or why not?
Your client decides that out of the 1 million names in the database, they can mail quintiles 1 through 2. How many customers would receive an offer? How many orders would the client expect to receive?
