TABLE 17-12 The Marketing Manager for a Nationally Franchised Lawn Service Company

question 156

Short Answer

TABLE 17-12
The marketing manager for a nationally franchised lawn service company would like to study the characteristics that differentiate home owners who do and do not have a lawn service.A random sample of 30 home owners located in a suburban area near a large city was selected; 15 did not have a lawn service (code 0)and 15 had a lawn service (code 1).Additional information available concerning these 30 home owners includes family income (Income,in thousands of dollars),lawn size (Lawn Size,in thousands of square feet),attitude toward outdoor recreational activities (Attitude 0 = unfavorable,1 = favorable),number of teenagers in the household (Teenager),and age of the head of the household (Age).
The Minitab output is given below:
-Referring to Table 17-12,what is the estimated odds ratio for a 48-year-old home owner with a family income of $100,000,a lawn size of 5,000 square feet,a negative attitude toward outdoor recreation,and one teenager in the household?

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Definitions:

Interest Rate

The percentage of an amount of money charged for its use per some period of time, often expressed as an annual percentage rate.

Redeemed

The act of exchanging something such as a coupon, voucher, or financial security for its value in goods, services, or money.

Inflation

The rate at which the general level of prices for goods and services is rising, eroding purchasing power.

Bond

A fixed income instrument representing a loan made by an investor to a borrower, typically corporate or governmental.