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PromoLab Ltd . is a small marketing analytics consultancy that works with co...
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PromoLab Ltd. is a small marketing analytics consultancy that works with consumer brands in Aotearoa New Zealand. One of their clients is , a fast-growing sparkling water company. Frizzle ran a month-long experiment to test whether advertising had a greater effect on sales during the holiday season compared to regular weeks. The company tracked weekly advertising budgets (in $1,000s) and corresponding sales revenue (in $1,000s) over 50 different store-weeks. They flagged each week as either a holiday (1) or non-holiday (0) period. To estimate the impact, PromoLab estimated the following regression model :
Sales = β₀ + β₁ × AdBudget + β₂ × Holiday + β₃ × (AdBudget × Holiday) + ε
where: Sales = total weekly sales revenue (in $1,000s); AdBudget = weekly advertising budget (in $1,000s); Holiday = dummy variable: 1 if holiday week, 0 otherwise and AdBudget × Holiday = interaction variables of advertising budget and holiday dummy.
The regression result is presented in the accompany Excel output below. Which of the following best describes how the model allows different advertising effectiveness across time periods?