Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Chapter 14.2, Problem 1P
The file P14_01.xlsx contains data on 100 consumers who drink beer. Some of them prefer light beer, and others prefer regular beer. A major beer producer believes that the following variables might be useful in discriminating between these two groups: gender, marital status, annual income level, and age.
- a. Use logistic regression to classify the consumers on the basis of these explanatory variables. How successful is it? Which variables appear to be most important in the classification?
- b. Consider a new customer: Male, Married, Income $42,000, Age 47. Use the logistic regression equation to estimate the probability that this customer prefers Regular. How would you classify this person?
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