In a marketing campaign, you want to predict the likelihood of a customer buying a product. How might the Odds Ratio be useful in interpreting the effect of different variables?
- By quantifying the correlation between variables
- By quantifying the effect of variables on the odds of buying
- By quantifying the effect of variables on the probability of buying
- By quantifying the relationship between input variables
The Odds Ratio can be useful in interpreting the effect of different variables on the odds of buying, allowing marketers to understand which factors have the most significant impact on purchase likelihood.
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