To study the effectiveness of a price discount coupon on a six-pack of a soft drink, Douglas
Question:
a. See if the logit model fits the data, treating the redemption rate as the dependent variable and price discount as the explanatory variable.
b. See if the probit model does as well as the logit model.
c. What is the predicted redemption rate if the price discount was 17 cents?
d. Estimate the price discount for which 70 percent of the coupons will be redeemed.
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