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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
TABLE 14-10
Regression Analysis
ANOVA
-Referring to Table 14-11, what is the estimated probability that a school with an average SAT score of 1250, a TOEFL criterion that is at least 550, and the room and board expense of 5 thousand dollars will be a private school?
Media Richness
The ability of information transmission channels to effectively convey complex messages.
Real-time Transactions
Financial or other transactions that are completed instantly at the moment they are initiated, without any delay.
Collaborative Filtering
A method used in recommender systems where algorithms predict a user's preferences based on the preferences of other users with similar tastes.
Buying Intentions
The likelihood or predisposition of consumers to purchase a particular product or service in the near future.
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