1. Evaluating a Marketing Mix Model
Marketing AnalystBackground
An analyst is testing a model with 5 predictors (TV, Radio, Social, Search, and Print) on a dataset of 100 campaigns.
Problem
The ordinary R-squared is 0.85, but the analyst needs to know if the model is overfitted due to the number of variables.
How to use
Input 0.85 for R-squared, 100 for sample size, and 5 for predictor count.
Outcome
The tool calculates an adjusted R-squared of approximately 0.8420, showing a small penalty for the five variables.