Proability of failure


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.

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).


Less is more. Stay pure. Stay poor.
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.