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SCENARIO 13-18
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 mean total Scholastic Aptitude Test score (SAT) at the university or college and whether the TOEFL criterion is at least 90 (Toefl90 = 1 if yes, 0 otherwise.) The dependent variable, Y, is school type (Type = 1 if private and 0 otherwise) .There are 80 universities in the sample.
The PHStat output is given below:
Binary Logistic Regression
-Referring to SCENARIO 13-18, which of the following is the correct interpretation for theToefl90 slope coefficient?
Positive Profits
The financial gain that occurs when the total revenues earned by a firm exceed its total costs of production, indicating successful business operations.
Total Revenues
The overall amount of money earned or received by a business or organization from its activities, before any expenses are subtracted.
Total Costs
The comprehensive sum of all expenses incurred in the production of goods or services, including fixed and variable costs.
Profit-maximizing Monopolist
A monopolist that determines the quantity of output that maximizes its profits, considering its total revenue and total cost.
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