TABLE 14-11
a Logistic Regression Model Was Estimated in Order

question 163

Short Answer

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
$\begin{array}{lrrrrrrr} & & & && \text { Odds } & \text { 95: CI } \\\text { Predictor } & {\text { Coef }} & \text { SE Coef } & Z &{\text { P }} & \text { Ratio } & \text { Lower } & \text { Upper } \\\text { Constant } &-27.118&6 .696& -4.05 & 0.000 & & & \\\text { SAT } & 0.015 & 0.004666 & 3.17 & 0.002 & 1.01 & 1.01 & 1.02 \\\text { Toefl550 } & -0.390 & 0.9538 & -0.41 & 0.682 & 0.68 & 0.10 & 4.39 \\\text { Room/Brd } & 2.078 & 0.5076 & 4.09 & 0.000 & 7.99 & 2.95 & 21.60\end{array}$

Log-Likelihood = -21.883
Test that all slopes are zero: G = 62.083, DF = 3, P-Value = 0.000
Goodness-of-Fit Tests

$\begin{array}{lrcr}\text { Method } & \text { Chi-Square } & \text { DF } & \text { P } \\ \text { Pearson } & 143.551 & 76 & 0.000 \\ \text { Deviance } & 43.767 & 76 & 0.999 \\ \text { Hosmer-Lemeshow } & 15.731 & 8 & 0.046\end{array}$


-Referring to Table 14-11, what should be the decision ('reject' or 'do not reject') on the null hypothesis when testing whether SAT makes a significant contribution to the model in the presence of the other independent variables at a 0.05 level of significance?

Identify the prime costs in manufacturing.

Understand the purpose and composition of the cost of production report.

Recognize the impact of different costing methods (FIFO, LIFO) on inventory valuation and cost of goods sold.

Understand the process of recording costs transferred within departments and determining end period work in process balances.

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