Logit model - Samenvattingen, Aantekeningen en Examens

WPC 300 Comprehensive Exam || Questions & Solutions (Graded A+) WPC 300 Comprehensive Exam || Questions & Solutions (Graded A+) which elements are LEAST useful in storytelling with data ? - ANSWER - Sound effects Adding the grid line in the chart - ANSWER - decrease the data ink ratio Which of the following statements describes one of the basic principles for creating a good chart, as defined by Edward Tufte - ANSWER - The chart should tell a story Which of the following is a con...

WPC 300 ACTUAL EXAM QUESTIONS WITH REVISED ANSWERS ALL CORRECT What would be the null hypothesis for testing a linear regression model with profit as the dependent variable and sales as the independent variable? - Answer- There is no linear relationship between profit and sales Which of the following assumptions is not true for multiple linear regression? - Answer- There will be a multi-collinearity effect A market analyst is developing a regression model to predict monthly household e...

WPC 300 Final Exam Review (2024) || Questions & Answers (Graded A+) WPC 300 Final Exam Review (2024) || Questions & Answers (Graded A+) What does R^2=0.694 mean? - ANSWER - Means that the regression model explains 69.4% of the observed variation of the response data around its mean Logistic Regression - ANSWER - used to describe data and to explain the relationship between one dependent binary variable and one or more nominal, ordinal, interval, or ratio-level independent variable Bi...

Logistic Regression - Answer- Commonly used for modeling binary response data. The response variable is a binary variable, and thus, not normally distributed. In logistic regression, we model the probability of a success, not the response variable. In this model, we do not have an error term g-function - Answer- We link the probability of success to the predicting variables using the g link function. The g function is the s-shape function that models the probability of success with respec...

ISYE 6414 - Unit 4, ISYE 6414 – Unit 5, Questions and answers. Rated A+ Logistic regression, we model the__________________, not the response variable, given the predicting variables. - -probability of a success g link function - -link the probability of success to the predicting variables 3 assumptions of the logistic regression model - -Linearity, Independence, Logit link function Logistic Model: Linearity assumption - -Similar to the regression model we have learned in the pre...

True - The relationship that links the predictors is highly non-linear. - In Logistic Regression, the relationship between the probability of success and the predicting variables is non-linear. False - In logistic regression, there are no error terms. - In Logistic Regression, the error terms follow a normal distribution. True - the logit function is also known as the log-odds function, which is the ln(P/1-p). - The logit function is the log of the ratio of the probability of success to the...

What is cooks distance used for? - correct answer It measures how much all of the values in the regression model change with the ith observation is removed. Basically its a test for outliers Rule of thumb: D denotes cooks distance, if D is > 4/n OR D > 1 or any large D then it may be an outlier and should be removed. If the normality assumption does not hold, we can pursue a transformation in the response variable. T/F - correct answer ...

A - Correct Answer The number of dummy variables representing a qualitative variable should be ________. A. one less than the number of categories of the variable B. two less than the number of categories of the variable C. the same number as the number of categories of the variable D. None of these choices is correct. F - Correct Answer value of test statistic for test of joint significance is _ statistic b - Correct Answer Which of the following predictions can be described b...

True - The relationship that links the predictors is highly non-linear. - In Logistic Regression, the relationship between the probability of success and the predicting variables is non-linear. False - In logistic regression, there are no error terms. - In Logistic Regression, the error terms follow a normal distribution. True - the logit function is also known as the log-odds function, which is the ln(P/1-p). - The logit function is the log of the ratio of the probability of success to th...

Logistic regression, we model the__________________, not the response variable, given the predicting variables. - Answer- probability of a success g link function - Answer- link the probability of success to the predicting variables 3 assumptions of the logistic regression model - Answer- Linearity, Independence, Logit link function Logistic Model: Linearity assumption - Answer- Similar to the regression model we have learned in the previous lectures, the relationship we assume now, bet...