A pharmaceutical company is running a test comparing two forms of advertising for the same product one which involved a television campaign and the other a print campaign. Market sectors are randomly assigned to receive a particular form of advertising and product sales are recorded during the month following ad campaigns. Using the data provided test if there is a significant difference in product sales by method of advertisement. Use (alpha) a=0.05 #### Comparison of Sales in Television and Print MarketsThe table below provides data on the sales performance across different markets for two advertising mediums: Television and Print.| Medium | Number of Markets | Mean Sales | Standard Deviation (SD) ||-------------|-------------------|------------|-------------------------|| Television | 80 | 125 | 24.5 || Print | 120 | 150 | 46.1 |**Description:**- **Television:** Based on data from 80 markets, the mean sales were 125 with a standard deviation of 24.5. This indicates that there is minor variability in sales figures across different television markets. - **Print:** Analyzing data from 120 markets, the mean sales resulted in 150, with a standard deviation of 46.1. This highlights a higher variability in sales numbers in print markets compared to television.**Analysis:**- The Print medium shows a higher average sales value compared to Television. However, it also has a larger standard deviation, suggesting more fluctuation and inconsistency in the sales data. - In contrast, Television demonstrates more consistent sales across its markets, although the average sales figure is lower than that of Print.The information here is vital for understanding the market dynamics and can assist in strategic decision-making regarding which advertising medium to invest in, depending on the desired balance between predictability and potential sales gain.

Name: A pharmaceutical company is running a test comparing two forms of adve
Uploaded: 2024-03-20T07:07:12.000Z
Channel: Bartleby
Description: A pharmaceutical company is running a test comparing two forms of advertising for the same product one which involved a television campaign and the other a print campaign. Market sectors are randomly assigned to receive a particular form of advertisi