I am trying to predict a sale using a logit regression. My dependent variable is
isSale and my dependent variables include only binary variables such as
I have my regression output and converted the coefficients to odds and then to probability.
predicted_probability = odds_ratio / (1 + odds_ratio)
My question is can I sum the probabilities that I generated from the odds ratio to create a combined probability for the observation?
isHighSale_City: coef: 1.19; odds_ratio: 3.52; pred_probability: 0.779
isHighSale_Domain: coef: 0.61; odds_ratio: 1.83; pred_probability: 0.65
Intercept: coef: -6.88; odds_ratio: 0.00057; pred_probability: 0.00057
If I want to score an prospective sale in a high sale city and high sale domain, would it be:
0.779 + 0.65 + 0.00057 = 1.429