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Multiple Regression and Marketing-Mix Models
Venkatesan, Rajkumar; Gibbs, Shea
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Multiple Regression and Marketing-Mix Models
Venkatesan, Rajkumar; Gibbs, Shea Technical Note M-0855 / Published October 7, 2013 / 4 pages.
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In this technical note, the concept of regression using a single independent variable is first introduced and then some of the practical challenges associated with it, including multiple independent variables in a regression, are discussed. Particular attention is paid to bias in the regression coefficients in the presence of omitted variables. The concept of the economic significance of a model is introduced and is contrasted with statistical significance. At Darden, this note is used in the course elective "Big Data in Marketing."




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  • Overview

    In this technical note, the concept of regression using a single independent variable is first introduced and then some of the practical challenges associated with it, including multiple independent variables in a regression, are discussed. Particular attention is paid to bias in the regression coefficients in the presence of omitted variables. The concept of the economic significance of a model is introduced and is contrasted with statistical significance. At Darden, this note is used in the course elective "Big Data in Marketing."

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