Wednesday, February 20, 2019
Risk Assignment
498 Assignment 4 Spring 2013 Due run across March 26, 2013 1. Consider the Luxury Seaside Hotel Risk Management graphic symbol you put together in your previous assignment. Answer the keep abreasting questions regarding all(prenominal) one of the risk sources you have identified (at least 4). i)If you desired to follow a statistical approach in the assessment of the risk, what hard entropy would you need, what hard data do you regard would be available, what near apoplexy data could be used to support the available insufficient stroking/failure data? i) What would be the key probability distributions of interest, which of these do you think you would be able to estimate (given the data environment that you have imagined in (i))? iii)What regression relationships would be of interest, which of these do you think you would be able to satisfy (given the data environment that you have imagined in (i))? Guideline for Answering / demolishing i)Data availability/unavailability sce narios should be reasonable and establish on facts, observations, assumptions, examples, beliefs. the connect discussions could be precise brief). ii)Suggestions for the key random variables and the associated probability functions should be intelligibly stated and based on well founded arguments (again, the related discussions need non be very long). Parameters of these distributions and how are they to be estimated from the data environment imagined in (i) should be clearly stated. ii)Suggestions for the regression relationships should be clearly stated and based on well founded arguments (again, the related discussions need not be very long).Related independent and dependent variables should be well defined. 2. A researcher from Virginia engineering school Institute and State University is interested in how variables, such as GRE (Graduate insert Exam totals), GPA (grade point average) and prestige of the undergraduate institution, effect doorway into graduate school. Si nce the response variable, admit/dont admit, is a binary variable, she considered logistic regression.A niggling data slump is conducted to fit a logistic regression equating relating the admit/dont admit decision y to GRE score x1, GPA score x2, and prestige of the undergraduate institution x3.. The data set is ready in both excel and SPSS data format, which can be obtained from course website by downloading binary. xlsx or binary. sav. The purpose of this homework is to use logistic regression to arrive at an appropriate model that predicts the outcome variableadmit, usinggre,gpa, andrank.
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