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A researcher studies a sample of 5,000 individuals who considered going on a trip to Eastern Europe last year; some individuals did go on the
A researcher studies a sample of 5,000 individuals who considered going on a trip to Eastern Europe last year; some individuals did go on the trip while some did not. The average cost of a trip to Eastern Europe is $120 a day, per individual. Let C/S denote an individual's cost to savings ratio and let Ybe a binary variable that takes the value 1 if the individual goes on a trip to Eastern Europe, and 0 othen/vise. The researcher estimates the probability that an individual goes on a trip through the following regression equation: A Pr[Y=1|(C/S)]= q>[2.6 4(C/S)]. (0.73) (0.95) Standard errors are given in parentheses. Jack, who has savings of $3,000, is considering going backpacking through Eastern Europe for 15 days. The probability that Jack will go backpacking through Eastern Europe is %. (Round your answer to two decimal places.)
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