A Logistic Regression Is Appropriate When

question 113

Multiple Choice

A logistic regression is appropriate when:

• A)the dependent variable is binary (0,1).
• B)an independent variable is binary (0,1).
• C)the dependent variable is log(Y).
• D)the independent variables have the form log(X).

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Definitions:

Dynamic Pricing

Refers to the process of charging different prices for goods or services based on the type of customer, time of the day, week, or even season, and level of demand.

Selling Season

The specific time period during which demand for a particular product or service is significantly higher, often due to seasonal factors.

Monopolistic Competition

A market structure characterized by many firms selling products that are similar but not identical, allowing for significant differentiation.

Differentiate

To distinguish a product, service, or brand from competitors by emphasizing unique features or benefits.