TABLE 14-18 A Logistic Regression Model Was Estimated in Order to Predict

question 259

Multiple Choice

TABLE 14-18
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, 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 Table 14-18, which of the following is the correct interpretation for the SAT slope coefficient?

• A) Holding constant the effect of the other variables, the estimated mean value of school type increases by 0.015 for each increase of one point in average SAT score.
• B) Holding constant the effect of the other variables, the estimated school type increases by 0.015 for each increase of one point in average SAT score.
• C) Holding constant the effect of the other variables, the estimated probability of the school being a private school increases by 0.015 for each increase of one point in mean SAT score.
• D) Holding constant the effect of the other variables, the estimated natural logarithm of the odds ratio of the school being a private school increases by 0.015 for each increase of one point in mean SAT score.

Comprehend the law of supply and the law of demand.

Identify the consequences of changes in factors other than the good's own price on supply and demand.

Understand how changes in the price of complementary and substitute goods affect demand.

Recognize the effects of income changes on the demand for normal and inferior goods.

---

Definitions:

Psychological Terms

A collective reference to the vocabulary and terminology used within the field of psychology.

Physical Terms

Specific words or phrases used to describe laws, principles, or phenomena in the physical sciences, such as physics or chemistry.

Social Comparisons

The process of assessing oneself against the standards, abilities, or conditions of others, which can influence self-esteem and aspirations.

Self-understanding

An individual's perception and assessment of their characteristics, emotions, and behaviors.