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List Testing Exercise: Economic Selection (SIMULATION)
Pfeifer, Phillip E. Forio Simulation M-0870 / Published December 10, 2015 / 0 pages.
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Product Overview

This web-based exercise simulates the common direct mail practice of testing a random sample of names from a rented list in order to decide whether to rent (and roll out) the entire list. Students must decide how many names to test and how many rounds of testing to conduct before making the rollout decision. The objective for each student team is to maximize the profit of a direct mail piece sent to 10 lists of unknown potential. Actual response rates for the 10 lists are used to simulate responses from any random sample of names. An interactive website manages the exercise on the Forio simulation platform, and provides students with a user guide (UVA-M-0870H). Contact Darden Business Publishing for a demonstration and further details.

  • Overview

    This web-based exercise simulates the common direct mail practice of testing a random sample of names from a rented list in order to decide whether to rent (and roll out) the entire list. Students must decide how many names to test and how many rounds of testing to conduct before making the rollout decision. The objective for each student team is to maximize the profit of a direct mail piece sent to 10 lists of unknown potential. Actual response rates for the 10 lists are used to simulate responses from any random sample of names. An interactive website manages the exercise on the Forio simulation platform, and provides students with a user guide (UVA-M-0870H). Contact Darden Business Publishing for a demonstration and further details.

  • Learning Objectives