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TABLE 14-11
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 average 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).
The Minitab output is given below:
Logistic Regression Table
Log-Likelihood = -21.883
Test that all slopes are zero: G = 62.083, DF = 3, P-Value = 0.000
Goodness-of-Fit Tests
-Referring to Table 14-11, there is not enough evidence to conclude that the model is not a good-fitting model at a 0.05 level of significance.
Buying Power
The ability of individuals or entities to purchase goods and services, often influenced by income levels, inflation, and market conditions.
Domestic Currency
The legal tender or currency that is circulated for use and accepted for exchange within the domestic economy of a country.
Dollarization
The process of a country adopting the US dollar as its primary currency, either officially or unofficially, alongside or in place of its own national currency.
Foreign Currency
Money or currency used in a country other than one's own.
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