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

question 30

Short Answer

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, what is the p-value of the test statistic when testing whether SAT makes a significant contribution to the model in the presence of the other independent variables?

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Profit Function

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Advertising Costs

Expenses incurred in promoting a product, service, or brand to potential customers.