Question 12 What is the predicted probability of retention for an online banker in region 12 who generated $100 of profit for the bank last year ? (write in 4 decimals, such as 0.2351) Question 13 What is the predicted probability of retention for an otherwise identical banker who does not use online banking? (write in 4 decimals, such as 0.2351) Question 14 What is the difference in predicted probabilities of retention between the online banker and the offline banker ? (write in 4 decimals, such as 0.2351)
Permutations and Combinations
If there are 5 dishes, they can be relished in any order at a time. In permutation, it should be in a particular order. In combination, the order does not matter. Take 3 letters a, b, and c. The possible ways of pairing any two letters are ab, bc, ac, ba, cb and ca. It is in a particular order. So, this can be called the permutation of a, b, and c. But if the order does not matter then ab is the same as ba. Similarly, bc is the same as cb and ac is the same as ca. Here the list has ab, bc, and ac alone. This can be called the combination of a, b, and c.
Counting Theory
The fundamental counting principle is a rule that is used to count the total number of possible outcomes in a given situation.
Answer all 3 questions
![Question 12
What is the predicted probability of retention for an online banker in region 12 who generated
$100 of profit for the bank last year ? (write in 4 decimals, such as 0.2351)
Question 13
What is the predicted probability of retention for an otherwise identical banker
who does not use online banking? (write in 4 decimals, such as 0.2351)
Question 14
What is the difference in predicted probabilities of retention between the online banker and the
offline banker ? (write in 4 decimals, such as 0.2351)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9e82fba7-0f55-4f86-b34f-cfca1bd7b79d%2F1eeb2b88-b6bc-4e23-b1b3-fcce843f4436%2F27u7657_processed.png&w=3840&q=75)
![Refer to the Pilgrim Bank model of retention. For this problem, use all digits in the table but round
your final answers to four decimal places.
Dependent Variable: RETENTION
Method: ML - Binary Probit (Quadratic hill climbing)
Date: 12/04/03 Time: 13:28
Sample: 1 31634
Included observations: 31634
Convergence achieved after 4 iterations
Covariance matrix computed using second derivatives
Variable
Coefficient
Std. Error
z-Statistic
Prob.
0.863918
0.084442
32.93175
0.0000
0.0014
0.0000
0.0107
0.026234
0.026512
3.185012
12.20773
2.553600
0.597270
ONLINE
0.000425
0.071085
0.020711
3.48E-05
0.027837
PROFIT
REGION12
REGION13
0.034676
0.5503
0.371710
0.834419 S.D. dependent var
0.370636 Akaike info criterion
4344.909 Schwarz criterion
Mean dependent var
S.E. of regression
Sum squared resid
Log likelihood
Restr. log likelihood
LR statistic (4 df)
Probability(LR stat)
0.892096
0.893418
-14105.29 Hannan-Quinn criter.
-14197.66 Avg. log likelihood
184.7454 McFadden R-squared
0.000000
0.892519
-0.445890
0.006506
31634
Obs with Dep=D0
Obs with Dep=1
5238
Total obs
26396](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9e82fba7-0f55-4f86-b34f-cfca1bd7b79d%2F1eeb2b88-b6bc-4e23-b1b3-fcce843f4436%2Fo706ih_processed.png&w=3840&q=75)
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