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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) .
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, which of the following is the correct interpretation for the Tofel500 slope coefficient?
GDP
The entirety of value generated from goods and services within a country's borders throughout a specific duration sums up what is known as the Gross Domestic Product.
Government Purchases
Expenditures by government for goods and services that directly satisfy collective needs or affect the economy’s total demand.
Investment
Investment pertains to the allocation of resources, such as capital or time, with the expectation of generating an income or profit.
Services
Economic activities that provide intangible products, such as healthcare, education, and financial services, to consumers.
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