1) In assessing the predictive power of categorical predictors of a binary outcome, should logistic regression be used?
your essay should be in between 150-to-200 words.
2) Please review Chapter 35 and answer the following questions. (https://www.oreilly.com/library/view/implementing-enterprise-risk/9781118746189/c35.xhtml ) Please create trail account valid for 15 days.
Explain the best approach to ensure successful implementation of ERM? Please provide a few different elements.
DQ requirement: Your essay should be in between 200-to-300 words. Follow APA format and references
Explanation & Answer
Running head: LOGISTIC REGRESSION AND ERM
Logistic Regression and ERM
LOGISTIC REGRESSION AND ERM
Answer to Question 1
Just like the simple linear regression, logistic regression is used to predict how dependent
variables are related to independent variables; only that, logistic regression works with binary
variables such s high scores versus low scores, male sex versus female sex. According to
StatisticsSolutions (2019), logistic regression should be used when assessing the predictive
ability of categorical binary outcome as long as there are two or more of independent binary
variables or predictors for this type of regression. This regression can also be used for continuous
predictors such as interval or ratio and not just for categorical only. In evaluating predictability
power, all binary predictors are tested in a single block at the same time controlling the effects
that other predictor might have on the model used in the assessment. Minus 2LogL (where L is
Likelihood) represents badness-of-fit f...