SCENARIO 14-18 a Logistic Regression Model Was Estimated in Order

question 34

Short Answer

SCENARIO 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 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:
-Referring to Scenario 14-18, what is the estimated probability that a school is a private one with a mean SAT score of 1250 and a TOEFL criterion that is at least 90?

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Average Total Cost Curve

A graphical representation that shows the average total cost of producing different quantities of a good.

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A principle stating that if one factor of production is increased while other factors are held constant, the output per unit of the variable factor will eventually decrease.