Sample Sizes and Marketing Campaigns
Abstract: This paper analyzes the problem of selecting sample sizes when comparing two survey methods in a marketing campaign. For example, a credit card company may want to compare a new marketing approach with an existing one. The paper compares two methods for calculating the sample size. One method uses confidence intervals and the other method uses a hypothesis testing model. The relative cost of the two marketing approaches is an important factor in selecting the preferred sample size calculation method.
Keywords: Sample Size - Type 1 error - Type 2 error - Confidence interval - Hypothesis testing - Sample cost