4. When the Titanic sank in 1912, there were over 1,300 passengers aboard. A random sample of50 passengers that were aboard is taken. The amount they paid for the voyage and whether ornot they survived is recorded.A model is fit to predict the probability they survived when the ship sank is obtained.SurvivedLogistic Fit of Survived By Fare1.000.750.50-0.25-504 Parameter Estimates100TermIntercept -1.404254 0.4353289Fare0.01246686 0.0097945For log odds of Yes/NoFareEstimate Std Error ChiSquare10.411.62150200Prob> ChiSq0.00130.2031NoYesa) Suppose someone paid a fare of 25 pounds. Predict the probability they survived.b) How much would someone pay to have at least a 65% chance of survival?

Answered: Image /qna-images/answer/d39faee1-e964-4f00-b141-1d919eb7c0db.jpg

Answered: 4. When the Titanic sank in 1912, there…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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