BUAL 2650 QUIZZES 7-9 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS

BUAL 2650 QUIZZES 7-9 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS 5.0 (1 review) Practice questions for this set In logistic regression the goal is to the odds of the dependent variable. In logistic regression the goal is to predict the true value of the independent variable. False The dependent variable in logistic regression can take on values of 0 and 1. True Logistic regression is used when you want to predict a categorical variable from continuous or categorical variables. In logistic regression the dependent variable is categorical. The odds of an event occurring is: The probability that the event will occur divided by the probability that the event will not occur. The probability of a new employee passing a test is .20. What are the odds of the employee passing the test? 0.25 Mendenhall and Sincich (1993) present data that can be used to investigate allegations of gender discrimination in the hiring practices of a particular firm. Evaluate the significance of each independent variable in the model. Experience and Gender are significant in the model at the 5% significance level. Consider a potential employee having 4 years of education and 5 years of experience. From the Minitab output below, find a point estimate of the probability that the potential employee will be hired if the potential employee is a male. 0.0132945 Mendenhall and Sincich (1993) present data that can be used to investigate allegations of gender discrimination in the hiring practices of a particular firm. Identify the odds ratio estimates for (Gender). 271.4232 Assume that the current date is February 1, 2003. The linear regression model was applied to a monthly time series based on the last 24 months' sales (from January 2000 through December 2002). The following partial computer output summarizes the results. Coefficient Estimate t Intercept 4.3 2.07 Slope 1.6 2.98 Determine the predicted sales for this month. 45.9