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A researcher is interested in finding out the factors affecting the probability that a candidate contesting the U.S general elections wins or not. Let Money denote the amount of money spent on campaigning (measured in million dollars) and let the binary variable candidate denote whether the candidate is a Democrat (candidate = 1) or a Republican (candidate= 0). The researcher collects a random sample of 250 individuals out of those who contested for the U.S general election in the year 2016, and estimates the following regression equation: Pr(Win = 1| Money, candidate) = (0.59 +0.76Money - 0.81 candidate). (0.75) (1.12) (1.11) The standard errors are given in parentheses. The binary dependent variable Win takes the value 1 if a candidate wins the election, and 0 otherwise, keeping Money and candidate constant. is the cumulative standard normal distribution function. The change in the predicted probability of a candidate winning when the amount of money spent on the election campaign increases from $1mn to $2mn, given that the candidate is a Democrat is (Round your answer to four decimal places.)

A researcher is interested in finding out the factors affecting the probability that a candidate contesting the U.S general elections wins or not. Let Money denote the amount of money spent on campaigning (measured in million dollars) and let the binary variable candidate denote whether the candidate is a Democrat (candidate = 1) or a Republican (candidate= 0). The researcher collects a random sample of 250 individuals out of those who contested for the U.S general election in the year 2016, and estimates the following regression equation: Pr(Win = 1| Money, candidate) = (0.59 +0.76Money - 0.81 candidate). (0.75) (1.12) (1.11) The standard errors are given in parentheses. The binary dependent variable Win takes the value 1 if a candidate wins the election, and 0 otherwise, keeping Money and candidate constant. is the cumulative standard normal distribution function. The change in the predicted probability of a candidate winning when the amount of money spent on the election campaign increases from $1mn to $2mn, given that the candidate is a Democrat is (Round your answer to four decimal places.)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 10CYU
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A researcher is interested in finding out the factors affecting the probability that a candidate contesting the U.S general elections wins or not. Let Money denote the amount of money spent on campaigning (measured in million dollars) and let the binary variable candidate denote whether the candidate is a Democrat (candidate = 1) or a Republican (candidate = 0). The researcher collects a random sample of 250 individuals out of those who contested for the U.S general election in the year 2016, and estimates the following regression equation: Pr(Win = 1| Money, candidate) = (0.59 +0.76Money - 0.81 candidate). (0.75) (1.12) (1.11) The standard errors are given in parentheses. The binary dependent variable Win takes the value 1 if a candidate wins the election, and 0 otherwise, keeping Money and candidate constant. is the cumulative standard normal distribution function. The change in the predicted probability of a candidate winning when the amount of money spent on the election campaign increases from $1mn to $2mn, given that the candidate is a Democrat is (Round your answer to four decimal places.)
Transcribed Image Text:A researcher is interested in finding out the factors affecting the probability that a candidate contesting the U.S general elections wins or not. Let Money denote the amount of money spent on campaigning (measured in million dollars) and let the binary variable candidate denote whether the candidate is a Democrat (candidate = 1) or a Republican (candidate = 0). The researcher collects a random sample of 250 individuals out of those who contested for the U.S general election in the year 2016, and estimates the following regression equation: Pr(Win = 1| Money, candidate) = (0.59 +0.76Money - 0.81 candidate). (0.75) (1.12) (1.11) The standard errors are given in parentheses. The binary dependent variable Win takes the value 1 if a candidate wins the election, and 0 otherwise, keeping Money and candidate constant. is the cumulative standard normal distribution function. The change in the predicted probability of a candidate winning when the amount of money spent on the election campaign increases from $1mn to $2mn, given that the candidate is a Democrat is (Round your answer to four decimal places.)
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