TABLE 14-17
the Marketing Manager for a Nationally Franchised

question 118

Multiple Choice

TABLE 14-17
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:
$\begin{array}{lccccccrr} & & & & \text { Odds } & \text { 95 \% CI } \\\text {Predictor }& \text {Coef }&\text { SE Coef }&\text { Z }& \text {P} &\text { Ratio} &\text { Lower} & \text {Upper }\\\text {Constant }& -70.49 & 47.22 & -1.49 & 0.135 & & & \\\text {Income }& 0.2868 & 0.1523 & 1.88 & 0.060 & 1.33 & 0.99 & 1.80 \\\text {Lawn Size} & 1.0647 & 0.7472 & 1.42 & 0.154 & 2.90 & 0.67 & 12.54 \\\text {Attitude} & -12.744 & 9.455 & -1.35 & 0.178 & 0.00 & 0.00 & 326.06 \\\text {Teenager} & -0.200 & 1.061 & -0.19 & 0.850 & 0.82 & 0.10 & 6.56 \\\text {Age} & 1.0792 & 0.8783 & 1.23 & 0.219 & 2.94 & 0.53 & 16.45\end{array}$

Log-Likelihood = -4.890
Test that all slopes are zero: G = 31.808, DF = 5, P-Value = 0.000

Goodness-of-Fit Tests
$\begin{array}{lrrr}\text { Method } & \text { Chi-Square } & \text { DF } & \text { P } \\ \text { Pearson } & 9.313 & 24 & 0.997 \\ \text { Deviance } & 9.780 & 24 & 0.995 \\ \text { Hosmer-Lemeshow } & 0.571 & 8 & 1.000\end{array}$

-Referring to Table 14-17, which of the following is the correct expression for the estimated model?

• A) ln(odds ratio) = - 70.49 + 0.2868 Income + 1.0647 LawnSize - 12.744 Attitude - 0.200 Teenager + 1.0792 Age
• B) Y = - 70.49 + 0.2868 Income + 1.0647 LawnSize - 12.744 Attitude - 0.200 Teenager + 1.0792 Age
• C) ln(estimated odds ratio) = - 70.49 + 0.2868 Income + 1.0647 LawnSize - 12.744 Attitude - 0.200 Teenager + 1.0792 Age
• D) Y^{^} = - 70.49 + 0.2868 Income + 1.0647 LawnSize - 12.744 Attitude - 0.200 Teenager + 1.0792 Age

Identify the types and implications of power of attorney.

Analyze the legal interpretations and outcomes of cases involving power of attorney and trust transfers.

Comprehend the establishment and termination of agency relationships, including methods of termination notice.

Distinguish between different agency authorities and the liability of agents and principals to third parties.

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Definitions:

Consumers

Individuals or entities that purchase goods and services for personal use, driving demand in the economy.

Parity Ratio

A ratio that compares two quantities to determine if they are equal, often used in economics to compare the value of different items.

Prices Received

The amount of money that sellers receive for their goods or services, often considered in the context of market dynamics and economic analysis.

Farmers

Individuals engaged in agriculture, raising living organisms for food or raw materials, often on a farm or rural setting.