A catalog company builds a logistic regression (LR) model to predictthe probability that a customer will buy from the catalog during aparticular campaign (mailing). The LR model contains 2 independentvariables: X1 spend per year in 1000's of dollars (so $2000 will becoded as X1 2) and X2= does customer possess a loyalty card (X21 means customer has loyalty card, X2 = 0 means customer doesnot have the card). Once the model is fitted, the LR coefficients areprovided below:=Constant term (BETAO): - 3.5 (negative 3.5)X1 coeff. (BETA1): 0.6X2 coeff.(BETA2): 1.5What is the probability that a customer who spends $6000/year andwho does NOT have a loyalty card will respond to the campaign?=O About 53%O About 15%About 33%O About 45%

From given data we have : β0=-3.5,β1=0.6,β2=1.5

Answered: What is the probability that a customer…

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...

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What is the probability that a customer who spends $6000/year and who does NOT have a loyalty card will respond to the campaign? O About 53% O About 15% About 33% O About 45%