Logistic regression analysis was used to develop a model to predict if a company was a North American company based on its Market Value. A variable was coded 1 if the company headquarters was located in North America, and coded 0 if the company headquarters was outside North America. The partial Minitab output is shown below. Using the regression equation, what is the probability that a company with a market value of 300 is a North American company? If the market value is 10, what is the probability that a company is a North American company?

Coefficients Term Constant Market Value 0.00485 0.00104 Coef SE Coef Z-Value P-Value -1.1143 0.0646 -17.24 0.000 4.67 0.000 Regression Equation P(1) exp (Y)/(1+ exp(Y')) Y = -1.1143 +0.00485 Market Value ($ B)