Gail's Golf Getaways Identified Active Retirees Living in the Retirement

question 23

Essay

Gail's Golf Getaways identified active retirees living in the retirement community nearby as one of her potential target markets. She knows she can tailor her service and marketing message to the schedules and interests of this audience. How will Gail evaluate the attractiveness of this segment?

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Definitions:

Statistical Significance

Rejection of the null hypothesis when an outcome has a low probability of occurrence (usually .05 or less) if, in fact, the null hypothesis is correct.

Probability Level

The threshold of significance, usually denoted as alpha (α), indicating the likelihood of observing the data if the null hypothesis is true.

Systematic Variance

The part of variance in a set of data that is attributable to identified sources or factors, as opposed to random or error variance.

Error Variance

Random variability in a set of scores that is not the result of the independent variable. Statistically, the variability of each score from its group mean.