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

question 102

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 estimated odds ratio for a school with an mean SAT score of 1250, a TOEFL criterion that is at least 550, and the room and board expense of 5 thousand dollars?

Explain the concept of acceptance under the Mailbox Rule and how it applies to various forms of communication.

Comprehend the circumstances under which a contract offer can be terminated.

Describe the principles of auctions, including the significance of an auction being with or without reserve.

Understand the legal implications of advertisements as invitations to offer versus formal offers.

---

Definitions:

Displaying Ethical Behavior

The practice of consistently demonstrating honesty, integrity, fairness, and respect in one's decisions and actions.

High-Mach Individuals

People with a high Machiavellianism trait, who tend to be manipulative, deceitful, and pragmatic in their strategies to achieve power and control.

Low-Mach Individuals

People characterized by lower levels of Machiavellianism, displaying sincerity, lower manipulation tendencies, and a more ethical stance in interpersonal relations.

Goal-directed Behavior

actions that are performed with a specific objective or goal in mind, showing purpose and direction.