Question: Please help me understand how to answer these questions. Please provide simple, simple, simple explanation. Thank you 4. A logistic regression model was built to

Please help me understand how to answer these questions. Please provide simple, simple, simple explanation. Thank you

Please help me understand how to answer these questions. Please provide simple,

4. A logistic regression model was built to predict the success to graduate from a: MBA program for students who are currently applying based on their GMAT and GPA. Success is coded as 1 and failure 0. The google sheet logistic regression output is below, which predicts the probability of being 1. a. What is the logistic regression equation based on the output where the left hand side of the equation is the predicted probability of success? b. One of the admission criteria is the predicted probability of success needs to be higher than 60%. Among the following applicants, who will not be accepted based on this criterion alone? Applicants GPA GMAT a 3.64 573 b 3.36 594 c 3.66 594 d 3.11 599 e 3.10 608 f 3.24 616 g 2.93 617 h 3.3? 619 c. For applicants who got admitted, 15% of them didn't complete the degree. And Graduates from this program in the past on average increased their salary by 10K every year for the first three years after graduation, (i.e., +10k year 1, +20k year 2, +30k year 3 relative to the salary before obtaining the degree}. If we only consider the incremental earning potentials for the first three yea rs and assume time value of money is negligible, what is the fair tuition for this program

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!