Homework Help is Here – Start Your Trial Now!
Math
Advanced Math
The table provides estimates of the probability of using the coupon in the Simmons Stores catalog promotion. A different value is obtained for each combination of values for the independent variables. Annual Spending $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 Yes 0.3307 0.4102 0.4948 0.5796 0.6599 0.7320 0.7936 Credit Card No 0.1414 0.1881 0.2460 0.3148 0.3927 0.4765 0.5617 These values were obtained from a logistic regression equation where X1 = annual spending at Simmons Stores ($1,000s) Jo if the customer does not have a Simmons credit card %3D X2 = l1 if the customer has a Simmons credit card (o if the customer did not use the coupon y li if the customer used the coupon. (a) Compute the odds in favor of using the coupon for a customer with annual spending of $6,000 who does not have a Simmons credit card (x, = 6, x, = 0). (Round your answer to four decimal places.) (b) Use the information in the table and in part (a) to compute the odds ratio for the Simmons credit card variable x, = 0, holding annual spending constant at x, = 6. (Round your answer to two decimal places.) X1 (c) The odds ratio for the Simmons credit card variable computed using the information in the $2,000 column of the table was 3.00 (rounded to two decimal places). Did you get the same value for the odds ratio in part (b)? Both rounded to two decimal places, the odds ratio for x, computed holding annual spending constant at $6,000 is O v the same as the odds independent of the value of x,. ratio for x, computed holding annual spending constant at $2,000. This shows that the odds ratio for x, is

The table provides estimates of the probability of using the coupon in the Simmons Stores catalog promotion. A different value is obtained for each combination of values for the independent variables. Annual Spending $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 Yes 0.3307 0.4102 0.4948 0.5796 0.6599 0.7320 0.7936 Credit Card No 0.1414 0.1881 0.2460 0.3148 0.3927 0.4765 0.5617 These values were obtained from a logistic regression equation where X1 = annual spending at Simmons Stores ($1,000s) Jo if the customer does not have a Simmons credit card %3D X2 = l1 if the customer has a Simmons credit card (o if the customer did not use the coupon y li if the customer used the coupon. (a) Compute the odds in favor of using the coupon for a customer with annual spending of $6,000 who does not have a Simmons credit card (x, = 6, x, = 0). (Round your answer to four decimal places.) (b) Use the information in the table and in part (a) to compute the odds ratio for the Simmons credit card variable x, = 0, holding annual spending constant at x, = 6. (Round your answer to two decimal places.) X1 (c) The odds ratio for the Simmons credit card variable computed using the information in the $2,000 column of the table was 3.00 (rounded to two decimal places). Did you get the same value for the odds ratio in part (b)? Both rounded to two decimal places, the odds ratio for x, computed holding annual spending constant at $6,000 is O v the same as the odds independent of the value of x,. ratio for x, computed holding annual spending constant at $2,000. This shows that the odds ratio for x, is

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
See similar textbooks
icon
Related questions
Question
The table provides estimates of the probability of using the coupon in the Simmons Stores catalog promotion. A different value is obtained for each combination of values for the independent variables. Annual Spending $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 Yes 0.3307 0.4102 0.4948 0.5796 0.6599 0.7320 0.7936 Credit Card No 0.1414 0.1881 0.2460 0.3148 0.3927 0.4765 0.5617 These values were obtained from a logistic regression equation where X1 = annual spending at Simmons Stores ($1,000s) Jo if the customer does not have a Simmons credit card %3D X2 = l1 if the customer has a Simmons credit card o if the customer did not use the coupon li if the customer used the coupon. y (a) Compute the odds in favor of using the coupon for a customer with annual spending of $6,000 who does not have a Simmons credit card (x, = 6, x, = 0). (Round your answer to four decimal places.) (b) Use the information in the table and in part (a) to compute the odds ratio for the Simmons credit card variable x, = 0, holding annual spending constant at x, = 6. (Round your answer to two decimal places.) X1 (c) The odds ratio for the Simmons credit card variable computed using the information in the $2,000 column of the table was 3.00 (rounded to two decimal places). Did you get the same value for the odds ratio in part (b)? Both rounded to two decimal places, the odds ratio for x, computed holding annual spending constant at $6,000 is O v the same as the odds independent of the value of x,. ratio for x, computed holding annual spending constant at $2,000. This shows that the odds ratio for x, is
Transcribed Image Text:The table provides estimates of the probability of using the coupon in the Simmons Stores catalog promotion. A different value is obtained for each combination of values for the independent variables. Annual Spending $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 Yes 0.3307 0.4102 0.4948 0.5796 0.6599 0.7320 0.7936 Credit Card No 0.1414 0.1881 0.2460 0.3148 0.3927 0.4765 0.5617 These values were obtained from a logistic regression equation where X1 = annual spending at Simmons Stores ($1,000s) Jo if the customer does not have a Simmons credit card %3D X2 = l1 if the customer has a Simmons credit card o if the customer did not use the coupon li if the customer used the coupon. y (a) Compute the odds in favor of using the coupon for a customer with annual spending of $6,000 who does not have a Simmons credit card (x, = 6, x, = 0). (Round your answer to four decimal places.) (b) Use the information in the table and in part (a) to compute the odds ratio for the Simmons credit card variable x, = 0, holding annual spending constant at x, = 6. (Round your answer to two decimal places.) X1 (c) The odds ratio for the Simmons credit card variable computed using the information in the $2,000 column of the table was 3.00 (rounded to two decimal places). Did you get the same value for the odds ratio in part (b)? Both rounded to two decimal places, the odds ratio for x, computed holding annual spending constant at $6,000 is O v the same as the odds independent of the value of x,. ratio for x, computed holding annual spending constant at $2,000. This shows that the odds ratio for x, is
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
Basic Technical Mathematics
Basic Technical Mathematics
Advanced Math
ISBN:
9780134437705
Author:
Washington
Publisher:
PEARSON
Topology
Topology
Advanced Math
ISBN:
9780134689517
Author:
Munkres, James R.
Publisher:
Pearson,
SEE MORE TEXTBOOKS