Which of the Following Is True About Logistic Regressions

question 14

Multiple Choice

Which of the following is true about logistic regressions?

• A) It is a method to test for causality in correlational designs.
• B) It is a method of extracting the strongest predictor variables.
• C) It is a method to analyse a binary outcome variable.
• D) It is a way to assess interactions in regressions.

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Definitions:

Contribution Per Unit

The amount of money each unit sold contributes towards covering fixed costs and generating profit.

Break-Even Analysis

A financial calculation to determine the point at which revenue received equals the costs associated with receiving the revenue, indicating no net loss or gain.

Price Elasticity

A measure of how the quantity demanded of a good or service changes in response to a change in its price.

Product Elasticity

Product elasticity refers to the degree to which the demand for a product changes in response to a change in price.