LOGISTIC REGRESSION EXCEL – PLEASE HELP! Sales of Riding Mowers A company that manufactures riding mowers wants to identify thebest sales prospects for an intensive sales campaign. Inparticular, the manufacturer is interested in classifyinghouseholds as prospective owners or nonowners on the basis ofIncome (in $1000s) and Lot Size (in 1000 ft2 ). The marketingexpert looked at a random sample of 24 households, given in thefile RidingMowers.xls. Use all the data to fit a logisticregression of ownership on the two predictors. a. What percentage of households in the studywere owners of a riding mower? b. What are the odds that a household with a$60K income and a lot size of 20,000 ft2 is an owner? c. What is the classification of a householdwith a $60K income and a lot size of 20,000 ft2 ? d. What is the minimum income that a householdwith 16,000 ft2 lot size should have before it is classified as anowner? Please use this dataset (in excel/XLMiner): . . .
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