the question

Application to the Boston HMDA data. A logit regression of deny against P/T ratio and black, using the 2380 observations tn the data set, yields the estimated regression function sie Pr(deny = 1|P/Iratio, black) = F(4.13 + 5.37P/I ratio + 1.27black). (11.10) (0.35) (0.96) (0.15) SW equation 11.10. Which of the following is a correct interpretation of the estimated coefficient on black? a. The probability of mortgage denial for an African American applicant is 0.781 percentage points higher than the probability of mortgage denial for a white applicant, holding P/I ratio constant. ) b. An African American applicant has a lower probability of mortgage denial than a white applicant, holding P/I ratio constant. c. The probability of mortgage denial for an African American applicant is 1.27 percentage points higher than the probability of mortgage denial for a white applicant, holding P/I ratio constant. d. An African American applicant has a higher probability of mortgage denial than a white applicant, holding P/I ratio constant