Brand choice and logit models - Logit models - Odds ratios
3 important questions on Brand choice and logit models - Logit models - Odds ratios
What question is answered with predictor values in logit models?
What is an odds ratio?
- O.R.=(o11/o21) / (o12/o22)
- O.R.=(o11*o22) / (o12*o21)
- with o being observed values.
What is Yule's Q?
- Q = (O.R. - 1) / (O.R. + 1) = ((o11o22) - (o12o21)) / ((o11o22) + (o12o21))
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