SCENARIO 18-11 a Logistic Regression Model Was Estimated in Order

question 94

Short Answer

SCENARIO 18-11 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 18-11, 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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Definitions:

Probability .70

A statistical measure indicating a 70% chance of a specific event or outcome occurring.

Nash Equilibrium

A situation in game theory where no player can benefit by unilaterally changing their strategy, assuming the other players' strategies remain unchanged.

Press Button

A simple mechanical or electronic device that is pressed to activate or control a mechanism or system.

Payoff

The return or reward received from an investment or action, often used in the context of games and economic scenarios.