Independent variable | Regression coefficient (p value) [95% confidence interval] | Advertising elasticity | Mean monthly expenditure (SD) | |
Television expenditures | 1.36 (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 expenditures | 0.057 (0.000) [0.044 to 0.070] | 0.037 | $652 (3194) | |
Newspaper expenditures | 0.028 (0.065) [−0.002 to 0.059] | 0.022 | $777 (2953) | |
Indicator variable for New York City | 3.79 (0.000) [3.64 to 3.95] | - | - | |
Number of observations | 912 |
*The elasticity for television expenditures is based on both expenditures and the square of expenditures.