Suppose a Company Is Interested in Understanding the Effect of Age

question 77

Multiple Choice

Suppose a company is interested in understanding the effect of age and gender on the likelihood a customer will purchase a new product.The data analyst intends to run a logistic regression on her data.Which of the following variable(s) will the analyst need to code as 0 or 1 prior to performing the logistic regression analysis?

• A) age and gender
• B) age and purchase status
• C) age
• D) purchase status
• E) gender and purchase status

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Definitions:

Saxony Carpet

A type of carpet known for its dense, soft pile, often used in residential settings for a luxurious appearance.

Option

A contract that grants the holder the right, but not the obligation, to buy or sell an asset at a designated price within a specified timeframe.

Promissory Estoppel

A legal principle that prevents a promisor from retracting a promise which the promisee has relied upon to their detriment, in the absence of a formal contract.

Unilateral Contract

An agreement in which one party makes a promise, but the other party is not required to respond with a promise in return; performance is the only acceptance needed.