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