How do I explain why this is a good outcome?

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...
icon
Related questions
Topic Video
Question

How do I explain why this is a good outcome?

 

 

### Logistic Regression Model Summary

**Deviance Residuals:**
- Min: -2.9114
- 1Q: -0.1921
- Median: -0.1226
- 3Q: -0.0792
- Max: 3.7793

**Coefficients:**

| Variable                | Estimate | Std. Error | z value | Pr(>|z|)  |
|-------------------------|----------|------------|---------|----------|
| (Intercept)             | -7.025e+00 | 1.763e-01  | -39.848 | < 2e-16  |
| Child6-12               | 1.656e-02 | 1.213e-03  | 13.648  | < 2e-16  |
| Child13-18              | -1.451e-02 | 1.243e-03  | -11.672 | < 2e-16  |
| Income                  | 3.733e-05 | 9.518e-07  | 39.229  | < 2e-16  |
| PaidDirectMailOrders    | 8.908e-02 | 2.690e-02  | 3.311   | 0.000929 |
| DollarsPerIssue         | 1.923e+00 | 8.073e-02  | 23.814  | < 2e-16  |
| MonthsSinceIncOrder     | 7.391e-03 | 4.291e-04  | 17.228  | < 2e-16  |
| MonthsSinceLastOrder    | -1.891e-02 | 1.308e-03  | -14.459 | < 2e-16  |

**Significance Codes:**
- '***' 0
- '**' 0.001
- '*' 0.01
- '.' 0.05
- ' ' 0.1

**Dispersion parameter for binomial family taken to be 1**

- Null deviance: 6261.9 on 31495 degrees of freedom
- Residual deviance: 5042.8 on 31492 degrees of freedom
- AIC: 5058.8
Transcribed Image Text:### Logistic Regression Model Summary **Deviance Residuals:** - Min: -2.9114 - 1Q: -0.1921 - Median: -0.1226 - 3Q: -0.0792 - Max: 3.7793 **Coefficients:** | Variable | Estimate | Std. Error | z value | Pr(>|z|) | |-------------------------|----------|------------|---------|----------| | (Intercept) | -7.025e+00 | 1.763e-01 | -39.848 | < 2e-16 | | Child6-12 | 1.656e-02 | 1.213e-03 | 13.648 | < 2e-16 | | Child13-18 | -1.451e-02 | 1.243e-03 | -11.672 | < 2e-16 | | Income | 3.733e-05 | 9.518e-07 | 39.229 | < 2e-16 | | PaidDirectMailOrders | 8.908e-02 | 2.690e-02 | 3.311 | 0.000929 | | DollarsPerIssue | 1.923e+00 | 8.073e-02 | 23.814 | < 2e-16 | | MonthsSinceIncOrder | 7.391e-03 | 4.291e-04 | 17.228 | < 2e-16 | | MonthsSinceLastOrder | -1.891e-02 | 1.308e-03 | -14.459 | < 2e-16 | **Significance Codes:** - '***' 0 - '**' 0.001 - '*' 0.01 - '.' 0.05 - ' ' 0.1 **Dispersion parameter for binomial family taken to be 1** - Null deviance: 6261.9 on 31495 degrees of freedom - Residual deviance: 5042.8 on 31492 degrees of freedom - AIC: 5058.8
Expert Solution
Step 1

Multiple linear regression model:

A multiple linear regression model is given as y = b0 + b1x1 + b2x2 + …+ bkxk  where y is the predicted value of response variable, and x1, x2,…, xk  are the k predictor variables. The quantities b1, b2,…, bk  are the estimated slopes corresponding to x1, x2,…, xk   respectively and b0 is the estimated intercept of the line, from the sample data.

A multiple regression equation describes the combined effect of all the predictors in the model. Even when the effect of a particular predictor is being studied from a multiple regression equation, it assumes that the effects of all the other predictors are accounted for.

trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Research Design Formulation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, probability and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
Probability
ISBN:
9780134753119
Author:
Sheldon Ross
Publisher:
PEARSON
A First Course in Probability
A First Course in Probability
Probability
ISBN:
9780321794772
Author:
Sheldon Ross
Publisher:
PEARSON