TABLE 14-19 The Marketing Manager for a Nationally Franchised Lawn Service Company

question 270

True/False

TABLE 14-19
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; 11 did not have a lawn service (code 0)and 19 had a lawn service (code 1).Additional information available concerning these 30 home owners includes family income (Income,in thousands of dollars)and lawn size (Lawn Size,in thousands of square feet).
The PHStat output is given below:
-True or False: Referring to Table 14-19,the null hypothesis that the model is a good-fitting model cannot be rejected when allowing for a 5% probability of making a type I error.

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Definitions:

Credit Sales

Sales in which the payment is deferred, allowing the buyer to purchase goods or services on account and pay at a later date.

Current Year

Refers to the present calendar or fiscal year in which a business or entity operates.

Direct Material B

Direct Material B pertains to specific raw materials or components designated with a "B" classification, used directly in the production of goods.

Finished Goods Inventory

The stock of completed products that are ready to be sold but have not yet been sold.