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

question 82

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 Income makes a significant contribution to the model in the presence of the other independent variables?

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Definitions:

Bad Weather

Unfavorable or destructive atmospheric conditions, including storms, heavy rain, snowfall, hurricanes, or extreme temperatures.

Production Tax

A tax imposed by governments on the production, sale, or use of goods and services within their jurisdiction.

Supply Curve

a graph showing the relationship between the price of a good and the quantity of the good that suppliers are willing and able to supply.

Equilibrium Price

The market price at which the quantity of a good supplied equals the quantity demanded, resulting in market balance.