TABLE 17-11 A Logistic Regression Model Was Estimated in Order to Predict

question 69

Short Answer

TABLE 17-11
A logistic regression model was estimated in order to predict the probability that a randomly chosen university or college would be a private university using information on mean total Scholastic Aptitude Test score (SAT)at the university or college,the room and board expense measured in thousands of dollars (Room/Brd),and whether the TOEFL criterion is at least 550 (Toefl550 = 1 if yes,0 otherwise.)The dependent variable,Y,is school type (Type = 1 if private and 0 otherwise).
-Referring to Table 17-11,what is the estimated odds ratio for a school with a mean SAT score of 1250,a TOEFL criterion that is at least 550,and the room and board expense of 5 thousand dollars?

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Definitions:

Activity-Based Costing

A costing method that assigns overhead and indirect costs to specific activities, improving the accuracy of product and service costing.

Manufacturing Overhead

All indirect costs associated with the manufacturing process, such as factory rent, utilities, and salaries of indirect labor.

Activity-Based Costing

A method of costing that identifies activities in an organization and assigns the cost of each activity to all products and services according to the actual consumption.

Batch Setup

Batch setup refers to the process and the activities involved in preparing equipment or a production area for manufacturing a specific batch of products.