SCENARIO 14-19 the Marketing Manager for a Nationally Franchised Lawn

question 132

Short Answer

SCENARIO 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; 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:
-Referring to Scenario 14-19, what is the estimated odds ratio for a home owner with a family income of $100,000 and a lawn size of 5,000 square feet?

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Definitions:

Algorithm

A step-by-step set of instructions designed to perform a specific task or solve a particular problem.

Problem Solving

The method of recognizing an issue, creating potential solutions, and implementing the most suitable action plan.

Possible Solutions

Various options or strategies that might be considered or applied in an attempt to resolve a problem or challenge.

Problem Space

The set of all possible states or configurations that a problem can take, considering the initial state, goal state, and all possible pathways to solve it.