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Social Class, followed, by Age and then Income seem to show the most significant associations in various entertainment categories, indicating that, in that specific order, these three are the most important categories for expensive restaurants to consider.
Movies seem to be the most relevant in Income, Age, and Life Cycle. Golf is relevant in Income. Bowling in Life Cycle. In-state travel seems to be somewhat (though moderately significant in both Life Cycle and Age. Skiing seems to have minor insignificance in Age alone. Dining at restaurants possesses low to moderate significance and hinges on Age, Income, and Life Cycle. Professional athletic events and Nightclubs are two variables that are significant at the .01 level in Life Cycle in both instances.
Explain the statistical test that is reported.
Warner's Index of Status Characteristics - also known as the Index of Status of Characteristics (ISC) is used in research dealing with consumer behavior in order to assess the socio-economic qualities of the consumers in question. It is an instrument of social class that synthesizes occupation, source of income (not amount), house type and dwelling area into a single weighted index of social class standing.
Still in use today, advanced tests also include the variables of Education, Spouse's Income, and Spouse's Education.
Each of the variables on the ISC is weighted with different digits (4, 3, and 2). To compute the individual's score, each weight is multiplied by person's rating on the corresponding variable. The individual's status on the specific variable (e.g. Income) is then summed up and accorded a digit from 1 ('very high') to 7 ('very low').
As a last step, the individual's score is then converted to social status level via another algorithm. Social status levels are in six categories. A percentage is also accorded to the individuals' social status as he is slotted into one of these categories (Lantos, 2010)
Source
Design and marketing dictionary Index of status characteristics (ISC)
http://design-marketing-dictionary.blogspot.com/2010/04/index-of-status-characteristics-isc.html
Lantos, GP (2010) Consumer Behavior in Action: Real-Life Applications for Marketing Managers. Google -- Book
http://books.google.com/books?id=JemkYebV5NYC&dq=Warner's+Index+of+Status+Characteristics&source=gbs_navlinks_s
Social Class And Health During the Renaissance and Medieval Times THE BASIS OF PRIVILEGE The Diet of the Rich and the Poor What the rich and the poor ate in those times was vastly distinct (Cheng et al., 1999). The nobles and the wealthy could well afford and were served a wide variety of foods by cooks. Poor peasants, on the other hand, subsisted on a few and affordable types of meat and
There is little chance for them to obtain a college degree, either because s/he does not have the money to afford it or the time to spend for it, or both. What is evident is that the plight of the lower class members of the society makes it impossible for them to compete against the higher class, since the latter has the money, time, and opportunity to maintain the
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Those individuals that are at the low end of the spectrum when it comes to earning wages would be happy to see more money in their paychecks as well, and many of the women that were in the workforce during that time were able to perform the jobs just as well as the men could but they were generally not allowed the opportunity (Frager & Patrias, 2006). Even for