Consumer Reports conducted a taste test on 19 brands of boxed chocolates. The following data show the
Question:
Suppose that you would like to determine whether products that cost more rate higher in quality. For the purpose of this exercise, use the following binary dependent variable:
y = 1 if the quality rating is very good or excellent and 0 if good or fair
a. Write the logistic regression equation relating x = price per serving to y.
b. Use Minitab to compute the estimated logit.
c. Use the estimated logit computed in part (b) to compute an estimate of the probability a chocolate that has a price per serving of $4.00 will have a quality rating of very good or excellent.
d. What is the estimate of the odds ratio? What is its interpretation?
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Related Book For
Statistics For Business And Economics
ISBN: 9780538481649
11th Edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams
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