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A check is a draft that is payable on demand.
Logistic Regression
A statistical method used for predicting a binary outcome from one or more predictor variables, modeling the probability of occurrence of an event by fitting data to a logistic curve.
Indicator Variable
An indicator variable is a numerical variable used in statistics that adopts a value of 1 if a certain condition is met and 0 if it is not.
Binomial Probability
The probability of obtaining a fixed number of successful outcomes in a fixed number of trials in a binomial experiment.
Odds
The ratio of the probability of an event happening to the probability of it not happening; in gambling, it represents the amount won relative to the stake.
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