Problem statement

Ho ho ho! ‘Tis the season to be jolly!

The holiday season is just around the corner—Christmas trees have been decorated, lights and wreaths hung, streets all decked up, Santa costumes rented out, and holiday cards in the mailbox. In light of this holiday cheer, retail brands, big and small, want to earn considerable profits, and therefore, are investing significantly in advertising. These brands have approached an advertising agency to plan and execute ad campaigns that will help them increase the footfall in their stores.

You have been hired by this advertising agency to assess the scope of revenue that can be generated by a proposed ad. Based on the demographic information provided, you need to predict whether the revenue generated will cover costs to produce and air the ad. This will help guide decision making for the firm, as they will want to pursue ads that are likely to generate a net gain for their clients— thereby bolstering the advertising firm’s reputation.

Data set  …