Media Mix Model and Experimental Calibration: A Simulation Study

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In this notebook, we present a complete simulation study of the media mix model (MMM) and experimental calibration method presented in the paper “Media Mix Model Calibration With Bayesian Priors”, by Zhang, et al. , where the authors propose a convenient parametrization the regression model in terms of the ROAs (return on advertising spend) instead of the classical regression (beta) coefficients.…

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