SCENARIO 18-12 The Marketing Manager for a Nationally Franchised Lawn Service Company

question 80

Short Answer

SCENARIO 18-12
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 Scenario 18-10 Model 1,what is the value of the test statistic when testing whether age has any effect on the number of weeks a worker is unemployed due to a layoff while holding constant the effect of all the other independent variables?

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Definitions:

Duration

A measure of the sensitivity of the price of a bond or other debt instrument to interest rate changes, representing the weighted average time until all cash flows are received.

Yield-To-Maturity

The expected total yield on a bond when held to its maturity date, stated as a yearly percentage.

Coupon Rate

The interest paid annually on a bond, indicated as a percentage of its face value.

Annually

Occurring once every year, often used to describe events or measurements that are taken or occur once per year.