Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4. When the Titanic sank in 1912, there were over 1,300 passengers aboard. A random sample of 50 passengers that were aboard is taken. The

image text in transcribed
4. When the Titanic sank in 1912, there were over 1,300 passengers aboard. A random sample of 50 passengers that were aboard is taken. The amount they paid for the voyage and whether or not they survived is recorded. A model is fit to predict the probability they survived when the ship sank is obtained. 4Logistic Fit of Survived By Fare 1.00 0.75- No ... . Survived 0.50 0.25 Yes 50 100 150 200 Fare 4 Parameter Estimates Term Estimate Std Error ChiSquare Prob> ChiSq Intercept -1.404254 0.4353289 10.41 0.0013 Fare 0.01246686 0.0097945 1.62 0.2031 For log odds of Yes/No a) Suppose someone paid a fare of 25 pounds. Predict the probability they survived. b) How much would someone pay to have at least a 65% chance of survival

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction To Probability Models

Authors: Sheldon M Ross

10th Edition

0123756863, 9780123756862

More Books

Students also viewed these Mathematics questions