Question

Consider the riding mower data with three variables as follows: ncome Annual income in $1000 Lot size Size of the lot in 1000 square feet Owner-Owner of riding mower or not a owner Suppose that the following is the logit function for the data with the variable Owner the target and the other two variables predictors. L--24.1+0.12 Income +1.35 Lot Size Consider a new homeowner with the predictor profile of $54600 of annual income and a lot size of 11500 square feet a) What is the value of the logit function L for the given predictor profile? Round your answer to 4 decimal places 4 marks b) What is the probability that a homeowner with the given predictor profile will own a riding mower? Round your answer to 4 decimal places.

Answer 1

Siven iats- me Annu income io lobo ot site size ot the lo in 0oo sucae eet LnCo CoaOorneir a new home owner ofth the piedictoY phofile ot r+600 ot annual a lot size ot lc6o Sguoe eet

0 fo $tooo change Oa x (006 ediclo Pofile lào.ooo0 ace γ。ding move change 을t the lot

moe e to te Same annua income 1300000 4 clecimal places) Thank Pou