Use the Following Information to Answer the Question

question 49

Multiple Choice

Use the following information to answer the question. A random sample of 30 couples who were also new home owners were asked to report the cost of their first house and their combined age when they married. The output of a regression analysis for predicting home cost from combined age is shown. Assume that the conditions of the linear regression model are satisfied.

-If the slope were 1, what would that say about the association?

• A)If the slope were 1, it would mean that on average, for every additional year in combined age, the home cost would be $2,122.75 lower.
• B)If the slope were 1, it would mean that on average, for every additional year in combined age, the home cost would be 1 dollar more.
• C)If the slope were 1, it would mean that on average, for every additional year in combined age, the home cost would be $2,122.75 higher.
• D)None of these.

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Definitions:

Situational Influence

The impact of environmental factors and specific situations on consumers' behavior and decision-making process.

Physical Surrounding

The physical environment in which a service or retail interaction takes place, influencing customer perceptions and experiences.

Credit Cards

Payment cards issued to users as a method of payment, allowing the cardholder to borrow funds with the promise to pay back the borrowed amount plus any agreed fees.

Consumer Involvement

The level of engagement and interest a consumer has in purchasing and using a product, which can influence their buying behavior and decision-making process.