https://gnarlyware.com/tags/econometrics/ Recent content in econometrics on gnarlyware Hugo -- gohugo.io fredrik.pj.nilsson@gmail.com (Fredrik Nilsson) fredrik.pj.nilsson@gmail.com (Fredrik Nilsson) Wed, 01 Sep 2021 00:00:00 +0000 https://gnarlyware.com/blog/fooled-by-average-customer-revenue/ Wed, 01 Sep 2021 00:00:00 +0000 fredrik.pj.nilsson@gmail.com (Fredrik Nilsson) https://gnarlyware.com/blog/fooled-by-average-customer-revenue/ Let’s say you are running a business. You have just on-boarded an (expensive) new agency for acquiring customers. After a month, you want to decide if you should continue using them. You do this by comparing the average revenue of customers brought in by them agency, to average revenue of customers from your existing channels. How many customers from that agency do you need, to make an informed decision?