Consumer Reports conducted a taste test on some brands of boxed chocolates. The data show the price per serving, based on the FDA serving size of 1.4 ounces, and the quality rating for the chocolates tested.

Suppose that you would like to determine whether products that cost more rate higher in quality. use the following binary dependent variable:

y= 1 if the quality rating is very good or excellent and 0 if good or fair

a. Write the logistic regression equation relating x = price per serving to y.

b. Use SAS to compute the estimated logit.

c. Use the estimated logit computed in part (b) to compute an estimate of the probability a chocolate that has a price per serving of $4.00 will have a quality rating of very good or excellent.

d. What is the estimate of the odds ratio? What is its interpretation?