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solution

Assume you have estimated the following logistic regression based on data collected on home borrowers some of whom have previously defaulted on their loans. The estimated regression is:

Y = -2 + 0.2 E + 0.3 W+ 0.001 S + 0.01 A

Where Y is the dependent variable: Y = 0 if loan has defaulted and Y = 1 if loan did not default

E stands for education; W stands for currently working, S stands for monthly salary measured in dollars and A is age of applicant

E = 0 if borrower attended only high school and E = 1 if he is a university graduate

W = 0 if borrower is not working and W = 1 if he is working

Use the above regression to decide if you would grant a loan to a 50 years old engineer who wants to buy a home and is currently employed with a monthly salary of $2,000

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