Proability of failure

#1
Hello,

I have a date set (n=150) with 2 variables: contract value ($) and a binary variables success/failures that indicate whether the contract was completed without problems.
I want to know, for a given contract value, the probability of failure. I decided to create a basic histogram with my data and use a cumulative distribution function.
What do you think of that? I would like to use a simple solution.

Thanks!
 
#2
Try a logistic regression model with 0 or 1 (failures or success) as the dependent variable and the contract value ($) as the explanatory variable (" the x-variable).
 

hlsmith

Not a robit
#6
Glad to hear you had 'success'! This will generate predicted probabilities, which can be used to interpolate values of your continuous variable within the range included the sample.