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

question 15

Short Answer

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, what is the p-value of the test statistic when testing whether Teenager makes a significant contribution to the model in the presence of the other independent variables?

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Definitions:

Cost of Goods Sold

Costs directly connected with the manufacture of goods a company sells, including both materials and workforce expenses.

Beginning Inventory

The value of all the inventory held by a business at the start of an accounting period.

Net Sales

The amount of sales revenue left after deducting sales returns, allowances, and discounts.

Ending Inventory

The total value of all goods still available for sale at the end of an accounting period.