Table 1 Regression of log call volume on mass media expenditures
Independent variableRegression coefficient (p value) [95% confidence interval]Advertising elasticityMean monthly expenditure (SD)
Television expenditures1.36 (0.004) [0.554 to 2.173]0.151*$114 917 (350 635)
Television expenditures squared−0.21 (0.007) [−0.353 to −0.075]*$136 015 806 464 (1 567 004 033 024)
Radio expenditures0.057 (0.000) [0.044 to 0.070]0.037$652 (3194)
Newspaper expenditures0.028 (0.065) [−0.002 to 0.059]0.022$777 (2953)
Indicator variable for New York City3.79 (0.000) [3.64 to 3.95]--
Number of observations912
  • *The elasticity for television expenditures is based on both expenditures and the square of expenditures.