I have used penalized logistic regression (R package logistf
) to predict probability of a rare event. 0.12% is the event rate i.e., only 35 occurrence of event in the total 29k+ data points.
What is the prediction equation for penalized logistic regression? Is it same has logistic regression i.e., exp(a+bX) / 1 + exp(a+bX)$\frac{\exp(a+bX)}{1 + \exp(a+bX)}$?