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

question 85

True/False

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: 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:   -True or False: Referring to Table 17-12,there is not enough evidence to conclude that Teenager makes a significant contribution to the model in the presence of the other independent variables at a 0.05 level of significance.
-True or False: Referring to Table 17-12,there is not enough evidence to conclude that Teenager makes a significant contribution to the model in the presence of the other independent variables at a 0.05 level of significance.


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Credit Balance

A condition where the sum of credits in an account exceeds the sum of debits, often signaling a net liability or income.

Liability Account

An account on a company's balance sheet that represents obligations or debts that the company is responsible for repaying.

Error

An unintentional mistake in financial records or transactions, which can result from miscalculations, misunderstandings, or misinterpretations of financial data.

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Financial activities that involve the exchange of assets, provision of services, or other business activities that affect a company's financial position.

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