Question

You are working for the marketing team of a major bank. The bank has collected data from a recent sales campaign, where the outcome of interest, Y, is whether or not a customer signs up for a new type of account (1=Yes; 0=No). To try to understand the relationship between customer education level and the probability that he or she will sign up for the new account, your boss asks you to run a logistic regression model. The model is of the form: Y = B0 + B1*Education, where Education = Ed 0 (low), Ed1 (medium), and Ed 2 (high). Ed 0 is set as the reference group. Results from fitting this model to the data are as follows:

Coefficients	Estimates	S.E.	P-value
Intercept	-2.35	0.03	0.001
Ed 1	0.24	0.05	0.001
Ed 2	0.45	0.04	0.001

What is the probability of a client signing up for the new type of account, if the client has Ed 2?

[NOTE: Please give answer as a decimal so that it matches the correct answer in the system. For example, ENTER: 0.10, INSTEAD of 10.0%]

Answer 1

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