The file P17_05.xlsx contains data on 100 consumers who drink beer. Some of them prefer light beer,

Question:

The file P17_05.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.

1. 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?

2. 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?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Business Analytics Data Analysis and Decision Making

ISBN: 978-1305947542

6th edition

Authors: S. Christian Albright, Wayne L. Winston

Question Posted: