
Concept explainers
In Exercises 1-10, use
Round answers to the nearest dollar.
Suppose that you are buying a car for $56,000, including taxes and license fees. You saved $8000 for a down payment. The dealer is offering too two incentives:
Incentive A is $10,000 off the price of the car, followed by a five-year loan at 7.34%.
Incentive B does not have a cash rebate, but provides free financing (no interest) over five years.
What is the difference in monthly payments between the two offers? Which incentive is the better deal?

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Chapter 8 Solutions
Thinking Mathematically (7th Edition)
- I need help in ensuring that I explain it propleryy in the simplifest way as possiblearrow_forward(c) Because logistic regression predicts probabilities of outcomes, observations used to build a logistic regression model need not be independent. A. false: all observations must be independent B. true C. false: only observations with the same outcome need to be independent I ANSWERED: A. false: all observations must be independent. (This was marked wrong but I have no idea why. Isn't this a basic assumption of logistic regression)arrow_forwardBusiness discussarrow_forward
- Spam filters are built on principles similar to those used in logistic regression. We fit a probability that each message is spam or not spam. We have several variables for each email. Here are a few: to_multiple=1 if there are multiple recipients, winner=1 if the word 'winner' appears in the subject line, format=1 if the email is poorly formatted, re_subj=1 if "re" appears in the subject line. A logistic model was fit to a dataset with the following output: Estimate SE Z Pr(>|Z|) (Intercept) -0.8161 0.086 -9.4895 0 to_multiple -2.5651 0.3052 -8.4047 0 winner 1.5801 0.3156 5.0067 0 format -0.1528 0.1136 -1.3451 0.1786 re_subj -2.8401 0.363 -7.824 0 (a) Write down the model using the coefficients from the model fit.log_odds(spam) = -0.8161 + -2.5651 + to_multiple + 1.5801 winner + -0.1528 format + -2.8401 re_subj(b) Suppose we have an observation where to_multiple=0, winner=1, format=0, and re_subj=0. What is the predicted probability that this message is spam?…arrow_forwardConsider an event X comprised of three outcomes whose probabilities are 9/18, 1/18,and 6/18. Compute the probability of the complement of the event. Question content area bottom Part 1 A.1/2 B.2/18 C.16/18 D.16/3arrow_forwardI need help making sure that I explain this part accutartly.arrow_forward
- Please help me with this question as I want to know how can I perform the partial fraction decompostion on this alebgric equation to find the time-domain of y(t)arrow_forwardJohn and Mike were offered mints. What is the probability that at least John or Mike would respond favorably? (Hint: Use the classical definition.) Question content area bottom Part 1 A.1/2 B.3/4 C.1/8 D.3/8arrow_forwardPlease help me with this question as I want to know how can I perform the partial fraction on this alebgric equation to find the time-domain of y(t)arrow_forward
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