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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.
Accounting Equation
The foundational formula in accounting that represents the relationship between a company's assets, liabilities, and equity: Assets = Liabilities + Equity.
Accounting Equation
The foundational equation in accounting, Assets = Liabilities + Owner’s Equity, ensuring balance in financial reporting.
Assets
Economic resources owned or controlled by a business or individual, expected to produce future benefits.
Equity
The amount of ownership interest in a company, typically represented by the shares held by its shareholders.
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