Repeat Sales. The Tire Rack maintains an independent consumer survey to help drivers help each other by sharing their long-term tire experiences. The data contained in the file named TireRatings show survey results for 68 all-season tires. Performance traits are rated using the following 10-point scale. Superior Excellent Good Fair Unacceptable 10 9 8 7 6 5 4 3 2 1 The values for the variable labeled Wet are the average of the ratings for each tire's wet traction performance and the values for the variable labeled Noise are the average of the ratings for the noise level generated by each tire. Respondents were also asked whether they would buy the tire again using the following 10-point scale: Definitely Probably Possibly Probably Not Definitely Not 10 9 8 7 6 5 4 3 2 1 The values for the variable labeled Buy Again are the average of the buy-again responses. For the purposes of this exercise, we created the following binary dependent variable: Purchase 1 if the value of the Buy-Again variable is 7 or greater 0 if the value of the Buy-Again variable is less than 7 A+ A+ E(y)= Coefficients Term Coef SE Coef VIF Constant -39.5 12.5 Wet Noise 3.37 1.26 1.03 1.816 0.831 1.03 Odds Ratios for Continuous Predictors Odds Ratio 95% CI Wet 29.2095 (2.4521, 347.9413) Noise 6.1489 (1.2059, 31.3540) Regression Equation P (1) exp (Y') / (1 + exp (Y')) Y-39.5+ 3.37 Wet + 1.816 Noise a- Estimate of the probability that a customer will probably purchase a particular tire again with a Wet performance rating of 7 and a Noise performance rating of 6. (answer of a-. .) b) Estimate of the probability that a customer will probably purchase a particular tire again with a Wet performance rating of 8 and a Noise performance rating of 7. (answer of b-.
Repeat Sales. The Tire Rack maintains an independent consumer survey to help drivers help each other by sharing their long-term tire experiences. The data contained in the file named TireRatings show survey results for 68 all-season tires. Performance traits are rated using the following 10-point scale. Superior Excellent Good Fair Unacceptable 10 9 8 7 6 5 4 3 2 1 The values for the variable labeled Wet are the average of the ratings for each tire's wet traction performance and the values for the variable labeled Noise are the average of the ratings for the noise level generated by each tire. Respondents were also asked whether they would buy the tire again using the following 10-point scale: Definitely Probably Possibly Probably Not Definitely Not 10 9 8 7 6 5 4 3 2 1 The values for the variable labeled Buy Again are the average of the buy-again responses. For the purposes of this exercise, we created the following binary dependent variable: Purchase 1 if the value of the Buy-Again variable is 7 or greater 0 if the value of the Buy-Again variable is less than 7 A+ A+ E(y)= Coefficients Term Coef SE Coef VIF Constant -39.5 12.5 Wet Noise 3.37 1.26 1.03 1.816 0.831 1.03 Odds Ratios for Continuous Predictors Odds Ratio 95% CI Wet 29.2095 (2.4521, 347.9413) Noise 6.1489 (1.2059, 31.3540) Regression Equation P (1) exp (Y') / (1 + exp (Y')) Y-39.5+ 3.37 Wet + 1.816 Noise a- Estimate of the probability that a customer will probably purchase a particular tire again with a Wet performance rating of 7 and a Noise performance rating of 6. (answer of a-. .) b) Estimate of the probability that a customer will probably purchase a particular tire again with a Wet performance rating of 8 and a Noise performance rating of 7. (answer of b-.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
can you solve this question step by step in very detail and answer those a,b,c. this is so important for me please can you solve and right in very detail. thank you
Transcribed Image Text:Repeat Sales. The Tire Rack maintains an independent consumer survey to help
drivers help each other by sharing their long-term tire experiences. The data contained
in the file named TireRatings show survey results for 68 all-season tires. Performance
traits are rated using the following 10-point scale.
Superior
Excellent
Good
Fair
Unacceptable
10
9
8
7
6
5
4
3
2
1
The values for the variable labeled Wet are the average of the ratings for each tire's
wet traction performance and the values for the variable labeled Noise are the average
of the ratings for the noise level generated by each tire. Respondents were also asked
whether they would buy the tire again using the following 10-point scale:
Definitely
Probably
Possibly
Probably Not Definitely Not
10
9
8
7
6
5
4
3
2
1
The values for the variable labeled Buy Again are the average of the buy-again
responses. For the purposes of this exercise, we created the following binary
dependent variable:
Purchase
1 if the value of the Buy-Again variable is 7 or greater
0 if the value of the Buy-Again variable is less than 7
Transcribed Image Text:A+ A+
E(y)=
Coefficients
Term
Coef
SE Coef
VIF
Constant
-39.5
12.5
Wet
Noise
3.37
1.26
1.03
1.816
0.831
1.03
Odds Ratios for Continuous Predictors
Odds
Ratio
95% CI
Wet
29.2095
(2.4521, 347.9413)
Noise
6.1489
(1.2059, 31.3540)
Regression Equation
P (1) exp (Y') / (1 + exp (Y'))
Y-39.5+ 3.37 Wet + 1.816 Noise
a- Estimate of the probability that a customer will probably purchase a particular tire again with a Wet
performance rating of 7 and a Noise performance rating of 6.
(answer of a-.
.)
b) Estimate of the probability that a customer will probably purchase a particular tire again with a Wet
performance rating of 8 and a Noise performance rating of 7.
(answer of b-.
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