A study was performed to investigate new automobile
Chapter 11, Problem 93E(choose chapter or problem)
A study was performed to investigate new automobile purchases. A sample of 20 families was selected. Each family was surveyed to determine the age of their oldest vehicle and their total family income. A follow-up survey was conducted six months later to determine if they had actually purchased a new vehicle during that time period (y = 1 indicates yes and y = 0 indicates no). The data from this study are shown in the Table E11-16.
(a) Fit a logistic regression model to the data.
(b) Is the logistic regression model in part (a) adequate?
(c) Interpret the model coefficients \(\beta_1\) and \(\beta_2\).
(d) What is the estimated probability that a family with an income of $45,000 and a car that is five years old will purchase a new vehicle in the next six months?
(e) Expand the linear predictor to include an interaction term. Is there any evidence that this term is required in the model?
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