SCENARIO 17-11 A Logistic Regression Model Was Estimated in Order to Predict

question 291

Short Answer

SCENARIO 17-11
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 mean 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:
-Referring to Scenario 17-11, 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?

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Definitions:

Bretton Woods

Refers to the international monetary system established in 1944 in Bretton Woods, New Hampshire, which set up rules for commercial and financial relations among the world's major industrial states.

International Monetary Fund

The International Monetary Fund (IMF) is an international organization that aims to promote global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

State Planning

Involves government-led initiatives to direct economic activity and resources towards specific goals, often seen in socialist or communist economies aiming for equitable resource distribution and industrial management.