GLIM - PGPM FLex BA Quiz3_OnLogistic Regression

If Logistic Regression can be used for Classification, then Why is the 'name' given to it?

• Since it was an early development where regression was a prominent term

• Since in the womb of it, actually runs regression

• Since Logistic Regression is a logical regresion

• All of the mentioned

In regressIT tool, Why do we go for dummy variable transformation ?

• When we want to see the effect of variations within the variable (Eg: Gender- Male,Female

• We want to create a false variable

• Transforming variable give good output accuracy

• none of the above

The metric 'Odds of winning' is prominently used over probability in _______ application

• Horse race bidding

• Sports (winning)

• Gambling

• All of the mentioned

The range of odds ratio is _____

• 0 to 1

• 0 to +∞

• -∞ to +∞

• 0 to +10

What is the significance of Log odds ?

• It converts Logistic Regression model from probabilistic based to likelihood based

• It is used in Logistic regression models when one is looking for non-binary output

• It works both on regression and classification models

• All of the mentioned

While we implement the 'RegressIt' add in in microsoft excel, we analyze various independent variable (IVs) and its impact on output variable. Which of the below is important in this connection

• 'Coefficient'

• 'P-Value'

• 'VIF'

• All of the mentioned

For finding relation between independent variable (IV) and output variable (OV), of the value of p more than 0.05, what does it mean?

• It means that the IV and OV are statistically independent

• It simply mean that there is a tight relationship between IV and OV

• It simply mean that there is a close relationship between IV and OV

• None of the mentioned

A statistician argues: "ROC is best when cut-off is 0.5". What would you say in the business context

• True

• False

• It depends on the dataset and the goal of the analytics

• It depends upon on the number of data variables

Did you like the previous class on 'Logistic Regreesion'

• Yes, good

• Mostly

• Ok, so-so

• Not at all

• I was absent for those classes