Explain the conceptual significance of odds in logistic regression. If P(Y=1) is 0.60 calculate odds. For what value of P(Y=1), will the odds be 1? The graph for probabilities of logistic distribution can explain the consumer behavior and reducing rate of marginal utility. Do you agree? Explain with a diagram
Added by Juan L.
Close
Step 1
Conceptual Significance of Odds in Logistic Regression: In logistic regression, the odds represent the likelihood of an event occurring. Specifically, it represents the ratio of the probability of the event happening (P(Y=1)) to the probability of the event not Show more…
Show all steps
Your feedback will help us improve your experience
Adi S and 98 other Intro Stats / AP Statistics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
Deep Kumar S.
Logistic Regression Values: In a 2- to 3-paragraph post, construct a persuasive argument for the value (conditional probability, odds, odds ratio, etc.) that, intuitively, makes the most sense for you to report as a result to your audience. Be sure to provide a specific rationale for your choice.
Sri K.
QUESTION 1 Logistic regression is a specialized form of regression that is designed to predict _________ variables rather than numeric dependent measure. Three groups categorical A binary categorical Three groups numeric A binary numeric QUESTION 2 ____________ is a table that is often used to describe the performance of a classification model on a set of test data for which the true values are known. ANOVA Effect summary Parameter estimate Confusion matrix QUESTION 3 In logistic regression analysis, instead of Y as a dependent variable, we use a function of Y called as ______. Logit Odds ratio Odds Log of Y QUESTION 4 Odds ratio is defined as ___________________, where p is the probability of success. p/(p-1) 1/(p-1) p/(1-p) 1/(1-p)
Recommended Textbooks
Elementary Statistics a Step by Step Approach
The Practice of Statistics for AP
Introductory Statistics
Transcript
Watch the video solution with this free unlock.
EMAIL
PASSWORD