Logit Model

A Logit Model is a statistical tool used to predict the likelihood of a specific outcome based on certain factors. For example, it can estimate the probability that a customer will buy a product based on age, income, or other variables. Unlike simple yes/no predictions, it gives a probability between 0 and 1, indicating how likely the event is. It’s commonly used in fields like marketing, finance, and healthcare to make informed decisions by understanding the influence of different factors on binary outcomes.