TABLE 14-19 The Marketing Manager for a Nationally Franchised Lawn Service Company

question 126

True/False

TABLE 14-19
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; 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 (Atitude 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 Table 14-19, there is not enough evidence to conclude that Age 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:

Work Sheet

An internal document used by accountants to compile and analyze the accounts before preparing financial statements.

Adjustments

Modifications made to the accounting records or financial statements to accurately represent the financial position of an organization.

Journal

A record where all financial transactions are initially noted before being transferred to specific accounts in the ledger.

Income Statement Columns

Income statement columns refer to the structured format used to present the revenues, expenses, and net profit or loss of a business over a specific period.