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

question 106

True/False

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 18-11,there is not enough evidence to conclude that Toefl500 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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Definitions:

Zero Price

A situation where goods or services are offered for free, without a monetary exchange, often used in promotional contexts or digital offerings.

Free Lunch

An idiom indicating that it is impossible to get something for nothing, stemming from the concept that there are always costs associated.

Zero Price

A scenario where a good or service is offered at no cost to the consumer, potentially to stimulate demand or offer a benefit.

Product Markets

Markets where final goods and services are bought and sold, contrasting with markets for inputs used in production, like labor and raw materials.