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The economic selection of sample sizes for list testing

โœ Scribed by Phillip E. Pfeifer

Publisher
John Wiley and Sons
Year
1998
Tongue
English
Weight
294 KB
Volume
12
Category
Article
ISSN
1094-9968

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โœฆ Synopsis

This paper provides practical, tailored advice on the selection of sample sizes for list testing. The advice is based on an economic decision model that accounts for both the statistical properties of test samples and the economic factors relevant to the sample-size selection decision. This economic selection approach distinguishes the advice in this paper from the purely statistical approaches found elsewhere. Because the advice is tailored to a particular direct marketing situation, it represents an improvement over often-used rules of thumb. The approach can be implemented in an electronic spreadsheet. Illustrative numerical examples are provided.

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