SCENARIO 13-19
the Marketing Manager for a Nationally Franchised Lawn

question 15

Multiple Choice

SCENARIO 13-19
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:
Binary Logistic Regression $$\begin{array}{l}\begin{array} { l r r r r } \hline { \text { Predictor } } & \text { Coefficients } & \text { SE Coef } & { Z } & p \text {-Value } \\\hline \text { Intercept } & - 7.8562 & 3.8224 & - 2.0553 & 0.0398 \\\text { Income } & 0.0304 & 0.0133 & 2.2897 & 0.0220 \\\text { Lawn Size } & 1.2804 & 0.6971 & 1.8368 & 0.0662\\\text { Deviance } & 25.3089\end{array}\\\end{array}$$
-Referring to SCENARIO 13-19, which of the following is the correct interpretation for theLawn Size slope coefficient?

• A)Holding constant the effect of income, the estimated number of lawn services purchased increases by 1.2804 for each increase of one thousand square feet in lawn size.
• B)Holding constant the effect of income, the estimated average number of lawn services purchased increases by 1.2804 for each increase of one thousand square feet in lawn size.
• C)Holding constant the effect of income, the estimated probability of purchasing a lawn service increases by 1.2804 for each increase of one thousand square feet in lawn size.
• D)Holding constant the effect of income, the estimated natural logarithm of the odds ratio of purchasing a lawn service increases by 1.2804 for each increase of one thousand square feet in lawn size.

Determine investment classifications on the balance sheet.

Understand the structure and presentation of a balance sheet, including the order of assets and liabilities.

Analyze owner's equity calculations and changes within an accounting period.

Recognize and distinguish between types of intangible assets.

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Definitions:

Simple Random Sampling

A sampling method where each member of a population has an equal chance of being included in the sample.

Equal Probability

This refers to the concept that all outcomes or members of a population have the same chance of occurring or being chosen.

Stratified Random

A sampling method that involves dividing the population into subgroups and randomly selecting samples from each subgroup to ensure representation.

Nonprobability Sampling

Type of sampling procedure in which one cannot specify the probability that any member of the population will be included in the sample.