EXPLAIN THE LOAN DURATIONS BELOW

The model in the form y= 3 + 3,*+ & is called Select one: O a. regression equation O b. regression model O c. estimated regression equation O d. correlation equation3. An Italian bank collected data on the credit worthiness of their customers with the purpose of building a model for predicting the credit worthiness of future customers. The dataset consists of 1532 customers and for each customer the following variables were recorded. Variable Description Clams The credit worthiness of the customer - "Good" or "Bad" Age The customer's age in yours Duration Loan duration in months Housing The costumer's housing status - "Shared", "Rented", "Owned" A logistic regression model was fitted to the data, yielding the following output. Call: gin(formula = Class - Duration + Age + Housing, family . "binomial"'. data = ItalianCredit) Coefficients: Estimate Std. Error a value Pr(>lal) (Intercept) 0.608754 0. 409042 1.439 0. 1501 Duration -0. 036370 0. 006893 -6. 172 6.740-10 .me 0. 010862 0. 007064 2.628 O. COLO . HousingRent 0.005273 0.279319 0. 019 0.9849 Housing Own 0. 683104 0. 203954 2.492 0. 0127 . Signif. codes: 0 'ss' 0.001 "' 0.01 4 0.05 . ' 0. 1 . . 1 (a) Explain the motivation behind using the logistic function in the formulation of the model. What is the logistic regression equation corresponding to this fitted model? [10] (b) How does a person's housing status affect the odds of having a good credit score? Comment. [10] (c) The following three customers apply for a bank loan. Variable Customer 1 Customer 2 Customer 3 Duration 35 10 10 Age 31 55 Housing "Rented" #Owned" "Shared"Screen Shot 2018-04-05 at 9.21.45 PM Open with Preview 5. Brawdy Plastics, Inc., produces plastic seat belt retainers for General Motors at the Brawdy Plastics plant in Buffalo, New York. After final assembly and painting, the parts are placed on a conveyor belt that moves the parts past a final inspection station. How fast the parts move past the final inspection station depends upon the line speed of the conveyor belt (feet per minute). Although faster line speeds are desirable, management is concerned that