Load the debt data from the Jara way package and read the help file. How many columns are in the data frame debt

INSTRUCTIONS TO CANDIDATES

ANSWER ALL QUESTIONS

Part 1: Proportional Odds Models

It can be helpful to credit card companies to look at the characteristics of individuals to determine if a potential customer will use their card. Data was collected in a large survey on the psychology of debt and  can be found in the debt data set in the faraway package.

1. (1 point) Load the debt data from the Jara way package and read the help file. How many columns are in the data frame debt?

2. (2 points) Because of missing data, some of the functions in this lab will not run properly. Use the following code to “clean” the data. How many columns are in the data frame debt after running this code?

debt <- data. frame(cbind(debt$ incomegp, debt$ agegp, debt $bankacc, debt $ ccarduse))

colnames(debt) <- cÇ’incomegp”, “agegp”, “bankacc”, “ccarduse”)

debt <- na.omit(debt)

3. (3 points) Fit a proportional odds (PO) model predicting ccarduse from agegp, incoinegp and bankace.

a. What is the code to do this?

b. What is the interpretation for the slope of bankacc?

4. (5 points) Consider a subject who does not have a bank account, is in age group 1 and is in income group 1.

a. Use the proportional odds model that you fit in question 1 to compute P (ccarduse < 2) “by hand”.

b. What is the value inside the exponential function for this calculation?

5. (7 points) Suppose we believe that age group has a different effect on credit card use at different age levels. Fit a Generalized Ordinal (GENORD) model to the debt data. Test the proportional odds assumption by comparing the deviances of the PO model and the GENORD model. Make sure to include all steps of the hypothesis testing process.

6. (7 points) Assess the model fit for the PO model using the generalized HL test. Make sure to include all steps of the hypothesis testing process.

Attachments:

Expert's Answer

963 Times Downloaded

Related Questions

. The fundamental operations of create, read, update, and delete (CRUD) in either Python or Java

CS 340 Milestone One Guidelines and Rubric  Overview: For this assignment, you will implement the fundamental operations of create, read, update,

. Develop a program to emulate a purchase transaction at a retail store. This  program will have two classes, a LineItem class and a Transaction class

Retail Transaction Programming Project  Project Requirements:  Develop a program to emulate a purchase transaction at a retail store. This

. The following program contains five errors. Identify the errors and fix them

7COM1028   Secure Systems Programming   Referral Coursework: Secure

. Accepts the following from a user: Item Name Item Quantity Item Price Allows the user to create a file to store the sales receipt contents

Create a GUI program that:Accepts the following from a user:Item NameItem QuantityItem PriceAllows the user to create a file to store the sales receip

. The final project will encompass developing a web service using a software stack and implementing an industry-standard interface. Regardless of whether you choose to pursue application development goals as a pure developer or as a software engineer

CS 340 Final Project Guidelines and Rubric  Overview The final project will encompass developing a web service using a software stack and impleme